18,708 Shares in St. Joe Company (The) $JOE Acquired by Mountain Lake Investment Management LLC

Key Points

• Mountain Lake Investment Management LLC has acquired 18,708 shares of St. Joe Company, worth approximately $878,000, making it the firm's 24th largest position in its investment portfolio.
• St. Joe Company will pay a quarterly dividend of $0.14 on September 19th, representing a yield of 1.1% and a dividend payout ratio of 39.44%.
• Recent insider activity includes major shareholder Bruce R. Berkowitz selling 167,500 shares at an average price of $51.44, reducing his ownership by 1.00%.

Mountain Lake Investment Management LLC purchased a new position in St. Joe Company (The) (NYSE:JOE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,708 shares of the financial services provider's stock, valued at approximately $878,000. St. Joe makes up approximately 0.8% of Mountain Lake Investment Management LLC's portfolio, making the stock its 24th biggest holding.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of St. Joe in the first quarter worth about $263,000. SG Americas Securities LLC bought a new stake in shares of St. Joe in the first quarter worth about $475,000. Lazard Asset Management LLC bought a new stake in shares of St. Joe in the fourth quarter worth about $38,000. Millennium Management LLC increased its holdings in shares of St. Joe by 2,785.5% in the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider's stock worth $9,432,000 after acquiring an additional 202,642 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of St. Joe by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider's stock worth $921,000 after acquiring an additional 782 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded St. Joe from a "buy" rating to a "hold" rating in a report on Sunday, June 8th.

St. Joe Stock Performance

Shares of JOE traded up $1.38 during mid-day trading on Thursday, reaching $51.60. The company's stock had a trading volume of 70,369 shares, compared to its average volume of 249,575. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49. The stock has a market cap of $2.99 billion, a P/E ratio of 36.33 and a beta of 1.35. The business has a 50-day simple moving average of $50.42 and a two-hundred day simple moving average of $47.00. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.

St. Joe (NYSE:JOE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.The company had revenue of $129.10 million during the quarter.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 22nd. St. Joe's dividend payout ratio (DPR) is presently 39.44%.

Insider Activity

In other news, major shareholder Bruce R. Berkowitz sold 104,100 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $51.08, for a total value of $5,317,428.00. Following the completion of the sale, the insider directly owned 16,324,624 shares of the company's stock, valued at $833,861,793.92. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 616,000 shares of company stock valued at $31,340,145 over the last ninety days. Company insiders own 0.32% of the company's stock.

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.