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

The St. Joe Company (NYSE:JOE)’s share price hit 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. The stock had previously closed at $44.01.

St. Joe Trading Down 0.8 %

The firm has a fifty day moving average of $48.25 and a 200-day moving average of $54.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 37.00 and a beta of 1.27.

St. Joe Dividend Announcement

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

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 343,400 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 17,396,624 shares of the company’s stock, valued at $929,849,552.80. This represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jorge Luis Gonzalez purchased 1,695 shares of St. Joe stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $53.05 per share, for a total transaction of $89,919.75. Following the transaction, the chief executive officer now directly owns 60,093 shares of the company’s stock, valued at approximately $3,187,933.65. The trade was a 2.90 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 449,400 shares of company stock valued at $23,953,600. Corporate insiders own 38.80% of the company’s stock.

Institutional Trading of St. Joe

Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in St. Joe by 1.9% in the second quarter. Arizona State Retirement System now owns 9,805 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 180 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in St. Joe by 0.6% during 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 during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of St. Joe by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,808 shares of the financial services provider’s stock valued at $1,738,000 after acquiring an additional 236 shares during the last quarter. Amalgamated Bank increased its stake in St. Joe by 2.3% in the 3rd quarter. Amalgamated Bank now owns 11,090 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 246 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in St. Joe by 4.4% during the second quarter. Hsbc Holdings PLC now owns 6,478 shares of the financial services provider’s stock valued at $349,000 after buying an additional 274 shares during the period. 86.67% of the stock is currently owned by institutional investors and hedge funds.

St. Joe Company Profile

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.