St. Joe (NYSE:JOE) Hits New 1-Year Low – What’s Next?

The St. Joe Company (NYSE:JOE)’s stock price hit a new 52-week low on Thursday . The company traded as low as $50.08 and last traded at $50.11, with a volume of 141785 shares. The stock had previously closed at $50.59.

St. Joe Stock Performance

The company’s 50-day simple moving average is $56.38 and its 200-day simple moving average is $56.96. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 42.34 and a beta of 1.27. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, November 7th. St. Joe’s dividend payout ratio (DPR) is presently 47.46%.

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 343,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.45, for a total value of $18,354,730.00. Following the completion of the sale, the insider now owns 17,396,624 shares in the company, valued at approximately $929,849,552.80. This represents a 1.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jorge Luis Gonzalez bought 1,695 shares of the business’s stock in a transaction on Friday, October 25th. The shares were purchased at an average cost of $53.05 per share, for a total transaction of $89,919.75. Following the completion of the purchase, the chief executive officer now owns 60,093 shares in the company, valued at approximately $3,187,933.65. This trade represents a 2.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 600,700 shares of company stock worth $33,085,747 in the last quarter. 38.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of St. Joe by 5.7% in the 3rd quarter. State Street Corp now owns 1,396,046 shares of the financial services provider’s stock valued at $81,403,000 after buying an additional 75,374 shares in the last quarter. Vanguard Group Inc. boosted its holdings in St. Joe by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock worth $334,213,000 after purchasing an additional 59,563 shares in the last quarter. Raymond James & Associates increased its holdings in shares of St. Joe by 169.6% during the 2nd quarter. Raymond James & Associates now owns 89,286 shares of the financial services provider’s stock valued at $4,884,000 after acquiring an additional 56,171 shares during the last quarter. Barclays PLC raised its position in shares of St. Joe by 404.5% in the third quarter. Barclays PLC now owns 64,990 shares of the financial services provider’s stock valued at $3,790,000 after purchasing an additional 52,107 shares during the period. Finally, Old West Investment Management LLC lifted its stake in shares of St. Joe by 68.6% in the third quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock worth $7,427,000 after buying an additional 51,830 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

About St. Joe

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.