Teacher Retirement System of Texas reduced its position in shares of Joy Global Inc. (NYSE:JOY) by 59.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,696 shares of the company’s stock after selling 601,797 shares during the period. Teacher Retirement System of Texas owned 0.42% of Joy Global worth $11,420,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Joy Global by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 2,108,852 shares of the company’s stock worth $58,499,000 after buying an additional 80,373 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Joy Global during the third quarter worth $418,000. State Treasurer State of Michigan increased its stake in shares of Joy Global by 0.3% in the third quarter. State Treasurer State of Michigan now owns 39,474 shares of the company’s stock worth $1,095,000 after buying an additional 100 shares in the last quarter. Aperio Group LLC increased its stake in shares of Joy Global by 2.2% in the third quarter. Aperio Group LLC now owns 84,379 shares of the company’s stock worth $2,341,000 after buying an additional 1,827 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Joy Global during the third quarter worth $499,000. 84.90% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Joy Global (NYSE:JOY)

Joy Global Inc. (NYSE:JOY) traded up 0.04% during trading on Wednesday, hitting $28.04. The stock had a trading volume of 394,871 shares. Joy Global Inc. has a 52-week low of $8.35 and a 52-week high of $28.55. The stock’s market capitalization is $2.75 billion. The stock’s 50-day moving average is $27.92 and its 200-day moving average is $25.20.

Joy Global (NYSE:JOY) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business earned $587 million during the quarter. Joy Global had a negative net margin of 52.93% and a positive return on equity of 2.76%. The firm’s revenue was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, analysts predict that Joy Global Inc. will post $0.14 earnings per share for the current fiscal year.

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A number of brokerages recently weighed in on JOY. Axiom Securities reaffirmed a “sell” rating on shares of Joy Global in a research note on Saturday. Zacks Investment Research downgraded shares of Joy Global from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Macquarie downgraded shares of Joy Global from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 19th. William Blair cut shares of Joy Global from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 19th. Finally, CL King cut shares of Joy Global from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.41.

Joy Global Company Profile

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.

5 Day Chart for NYSE:JOY

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