Joy Global Inc. (JOY) Position Cut by New York State Common Retirement Fund

Joy Global Inc. (JOY) Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of Joy Global Inc. (NYSE:JOY) by 74.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,800 shares of the company’s stock after selling 290,280 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of Joy Global worth $2,824,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Joy Global by 23.9% in the second quarter. US Bancorp DE now owns 12,217 shares of the company’s stock worth $258,000 after buying an additional 2,357 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Joy Global by 3.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,916,619 shares of the company’s stock worth $61,657,000 after buying an additional 99,451 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Joy Global by 56.4% in the second quarter. BlackRock Fund Advisors now owns 4,868,856 shares of the company’s stock worth $102,928,000 after buying an additional 1,755,035 shares in the last quarter. BlackRock Inc. raised its position in shares of Joy Global by 9.4% in the second quarter. BlackRock Inc. now owns 81,318 shares of the company’s stock worth $1,719,000 after buying an additional 6,982 shares in the last quarter. Finally, BlackRock Investment Management LLC raised its position in Joy Global by 110.2% in the second quarter. BlackRock Investment Management LLC now owns 701,324 shares of the company’s stock valued at $14,826,000 after buying an additional 367,726 shares during the period. Hedge funds and other institutional investors own 84.18% of the company’s stock.

Joy Global Inc. (NYSE:JOY) traded down 0.018% during mid-day trading on Friday, hitting $28.135. 415,900 shares of the stock were exchanged. Joy Global Inc. has a 12-month low of $9.40 and a 12-month high of $28.55. The firm has a 50-day moving average price of $28.08 and a 200-day moving average price of $27.56. The stock’s market capitalization is $2.78 billion.

Joy Global (NYSE:JOY) last announced its quarterly earnings data on Wednesday, December 14th. The company reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. The firm earned $656 million during the quarter. Joy Global had a positive return on equity of 0.94% and a negative net margin of 2.46%. Joy Global’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Equities analysts predict that Joy Global Inc. will post $0.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $0.01 dividend. The ex-dividend date was Wednesday, December 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. Joy Global’s payout ratio is -6.67%.

JOY has been the subject of several research reports. Zacks Investment Research lowered shares of Joy Global from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. CL King lowered shares of Joy Global from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 19th. William Blair lowered shares of Joy Global from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 19th. Macquarie lowered shares of Joy Global from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 19th. Finally, Axiom Securities restated a “sell” rating on shares of Joy Global in a research report on Saturday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.39.

In related news, insider Douglas E. Blom sold 938 shares of Joy Global stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $28.05, for a total value of $26,310.90. Following the completion of the sale, the insider now directly owns 55,456 shares in the company, valued at $1,555,540.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Johannes S. Maritz sold 26,894 shares of Joy Global stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $28.06, for a total value of $754,645.64. Following the completion of the sale, the executive vice president now owns 60,083 shares of the company’s stock, valued at $1,685,928.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 701,284 shares of company stock valued at $19,651,426. Corporate insiders own 0.99% of the company’s stock.

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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