Nationwide Fund Advisors boosted its position in Joy Global Inc. (NYSE:JOY) by 119.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 353,543 shares of the company’s stock after buying an additional 192,449 shares during the period. Nationwide Fund Advisors owned approximately 0.36% of Joy Global worth $7,474,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in JOY. LS Investment Advisors LLC boosted its stake in shares of Joy Global by 71.9% in the second quarter. LS Investment Advisors LLC now owns 6,053 shares of the company’s stock worth $128,000 after buying an additional 2,532 shares during the period. Invictus RG bought a new position in Joy Global during the first quarter valued at $180,000. Princeton Alpha Management LP bought a new position in Joy Global during the second quarter valued at $226,000. Heartland Advisors Inc. bought a new position in Joy Global during the second quarter valued at $236,000. Finally, Hartford Investment Management Co. bought a new position in Joy Global during the second quarter valued at $247,000.
Joy Global Inc. (NYSE:JOY) traded down 0.50% during midday trading on Friday, hitting $27.59. 879,372 shares of the stock traded hands. The company’s 50-day moving average is $27.47 and its 200 day moving average is $21.74. Joy Global Inc. has a 12-month low of $8.35 and a 12-month high of $28.55. The firm’s market cap is $2.71 billion.
Joy Global (NYSE:JOY) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $587 million for the quarter. Joy Global had a positive return on equity of 2.76% and a negative net margin of 52.93%. The business’s quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, analysts anticipate that Joy Global Inc. will post $0.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.14%. Joy Global’s dividend payout ratio is presently -0.29%.
Several equities analysts recently weighed in on the stock. Citigroup Inc. reaffirmed a “hold” rating on shares of Joy Global in a research note on Saturday, June 4th. Vetr cut shares of Joy Global from a “buy” rating to a “hold” rating and set a $21.00 target price for the company. in a research note on Wednesday, June 29th. BB&T Corp. raised shares of Joy Global from an “underweight” rating to a “hold” rating in a research note on Thursday, July 21st. FBR & Co reaffirmed a “buy” rating on shares of Joy Global in a research note on Friday, July 22nd. Finally, BMO Capital Markets cut shares of Joy Global from an “outperform” rating to a “market perform” rating and raised their target price for the company from $24.00 to $28.00 in a research note on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.69.
About Joy Global
Joy Global Inc is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The Company manufactures and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.
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