Joy Global (JOY) : D.c. Capital Advisors Ltd reduced its stake in Joy Global by 33.33% during the most recent quarter end. The investment management company now holds a total of 100,000 shares of Joy Global which is valued at $2,736,000 after selling 50,000 shares in Joy Global , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Joy Global makes up approximately 1.55% of D.c. Capital Advisors Ltd’s portfolio.
Other Hedge Funds, Including , Grantham Mayo Van Otterloo boosted its stake in JOY in the latest quarter, The investment management firm added 22,700 additional shares and now holds a total of 44,400 shares of Joy Global which is valued at $1,214,784. Cortina Asset Management added JOY to its portfolio by purchasing 392,324 company shares during the most recent quarter which is valued at $10,733,985. Joy Global makes up approx 0.46% of Cortina Asset Management’s portfolio.Brown Advisory Inc reduced its stake in JOY by selling 2,361 shares or 9.73% in the most recent quarter. The Hedge Fund company now holds 21,893 shares of JOY which is valued at $602,495.Lebenthal Lisanti Capital Growth reduced its stake in JOY by selling 27,355 shares or 37.61% in the most recent quarter. The Hedge Fund company now holds 45,385 shares of JOY which is valued at $1,246,272. Joy Global makes up approx 1.73% of Lebenthal Lisanti Capital Growth’s portfolio.
Joy Global opened for trading at $27.4 and hit $27.555 on the upside on Monday, eventually ending the session at $27.52, with a gain of 0.70% or 0.19 points. The heightened volatility saw the trading volume jump to 7,62,897 shares. Company has a market cap of $2,701 M.
On the company’s financial health, Joy Global reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jun 2, 2016. Analyst had a consensus of $-0.01. The company had revenue of $602.00 million for the quarter, compared to analysts expectations of $605.64 million. The company’s revenue was down -25.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.
Many Wall Street Analysts have commented on Joy Global. Joy Global was Upgraded by BB&T Capital Mkts to ” Hold” on Jul 21, 2016. Company shares were Upgraded by FBR Capital on Jun 10, 2016 to ” Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $14 .
Joy Global Inc. is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The Company manufactures and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. The Companys equipment is used in major mining regions throughout the world to mine coal copper iron ore oil sands gold and other minerals. The Company operates in two business segments: Underground Mining Machinery and Surface Mining Equipment. The Company is a manufacturer of underground mining machinery for the extraction of coal and other bedded minerals and offer service locations near major mining regions worldwide. The Company is a major producer of surface mining equipment for the extraction of ores and minerals and provides extensive operational support for many types of equipment used in surface mining.