Joy Global (JOY) : Greylin Investment Mangement Inc reduced its stake in Joy Global by 4.09% during the most recent quarter end. The investment management company now holds a total of 225,075 shares of Joy Global which is valued at $6,268,339 after selling 9,600 shares in Joy Global , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Joy Global makes up approximately 1.39% of Greylin Investment Mangement Inc’s portfolio.
Other Hedge Funds, Including , Louisiana State Employees Retirement System reduced its stake in JOY by selling 1,100 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 26,100 shares of JOY which is valued at $726,885. Joy Global makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.Meeder Asset Management Inc reduced its stake in JOY by selling 29 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 44,838 shares of JOY which is valued at $1,253,222. Joy Global makes up approx 0.11% of Meeder Asset Management Inc’s portfolio.Kanaly Trust Co reduced its stake in JOY by selling 15 shares or 28.85% in the most recent quarter. The Hedge Fund company now holds 37 shares of JOY which is valued at $1,034.Adams Asset Advisors boosted its stake in JOY in the latest quarter, The investment management firm added 10,472 additional shares and now holds a total of 336,163 shares of Joy Global which is valued at $7,916,639. Joy Global makes up approx 1.32% of Adams Asset Advisors’s portfolio. Nordea Investment Management Ab sold out all of its stake in JOY during the most recent quarter. The investment firm sold 143,458 shares of JOY which is valued $3,378,436.
Joy Global closed down -0.03 points or -0.11% at $27.63 with 32,54,158 shares getting traded on Friday. Post opening the session at $27.67, the shares hit an intraday low of $27.62 and an intraday high of $27.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.