Joy Global Inc. (JOY) Shares Bought by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC increased its stake in shares of Joy Global Inc. (NYSE:JOY) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 16,942 shares of the company’s stock after buying an additional 46 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Joy Global were worth $358,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC raised its position 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 valued at $128,000 after buying an additional 2,532 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Joy Global by 1,233.3% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,000 shares of the company’s stock valued at $169,000 after buying an additional 7,400 shares during the last quarter. Invictus RG bought a new position in shares of Joy Global during the first quarter valued at $180,000. First Mercantile Trust Co. bought a new position in shares of Joy Global during the second quarter valued at $180,000. Finally, Acrospire Investment Management LLC raised its position in shares of Joy Global by 368.4% in the second quarter. Acrospire Investment Management LLC now owns 8,900 shares of the company’s stock valued at $188,000 after buying an additional 7,000 shares during the last quarter.
Joy Global Inc. (NYSE:JOY) opened at 27.73 on Friday. The company has a 50-day moving average of $27.47 and a 200-day moving average of $21.66. Joy Global Inc. has a one year low of $8.35 and a one year high of $28.55. The company’s market cap is $2.72 billion.
Joy Global (NYSE:JOY) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. Joy Global had a negative net margin of 52.93% and a positive return on equity of 2.76%. The firm earned $587 million during the quarter. During the same quarter in the prior year, the company earned $0.59 EPS. The business’s revenue for the quarter was down 26.0% compared to the same quarter last year. Equities research analysts expect that Joy Global Inc. will post $0.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, September 15th. Joy Global’s payout ratio is presently -0.29%.
Several equities analysts have recently weighed in on JOY shares. FBR & Co reissued a “buy” rating on shares of Joy Global in a research report on Friday, July 22nd. Vetr raised shares of Joy Global from a “strong sell” rating to a “buy” rating and set a $30.44 price objective on the stock in a research report on Monday, August 22nd. Morgan Stanley increased their price objective on shares of Joy Global from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, June 3rd. Barclays PLC lowered shares of Joy Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 21st. Finally, Bank of America Corp. reissued a “hold” rating and issued a $24.00 price objective (up from $22.00) on shares of Joy Global in a research report on Monday, June 6th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target 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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