St. Joe (NYSE:JOE) Hits New 52-Week Low – Here’s What Happened

The St. Joe Company (NYSE:JOE)’s share price reached a new 52-week low on Friday . The company traded as low as $42.94 and last traded at $43.67, with a volume of 40339 shares changing hands. The stock had previously closed at $44.01.

St. Joe Trading Down 0.8 %

The company has a market capitalization of $2.55 billion, a P/E ratio of 37.00 and a beta of 1.27. The company has a fifty day simple moving average of $48.25 and a two-hundred day simple moving average of $54.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 7th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, November 7th. St. Joe’s payout ratio is currently 47.46%.

Insiders Place Their Bets

In related news, CEO Jorge Luis Gonzalez acquired 1,695 shares of the company’s stock in a transaction on Friday, October 25th. The stock was 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 directly owns 60,093 shares of the company’s stock, valued at $3,187,933.65. The trade was a 2.90 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 80,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $53.14, for a total transaction of $4,251,200.00. Following the completion of the sale, the insider now owns 17,797,824 shares in the company, valued at $945,776,367.36. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 449,400 shares of company stock worth $23,953,600 in the last ninety days. Insiders own 38.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its position in St. Joe by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 101,188 shares of the financial services provider’s stock worth $5,535,000 after buying an additional 288 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of St. Joe by 57.1% in the second quarter. Victory Capital Management Inc. now owns 27,168 shares of the financial services provider’s stock worth $1,486,000 after acquiring an additional 9,875 shares during the last quarter. Arizona State Retirement System lifted its position in shares of St. Joe by 1.9% during the second quarter. Arizona State Retirement System now owns 9,805 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 180 shares in the last quarter. Quest Partners LLC grew its stake in shares of St. Joe by 72,300.0% during the second quarter. Quest Partners LLC now owns 724 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 723 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of St. Joe by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 31,348 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 185 shares in the last quarter. Institutional investors 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.