Old West Investment Management LLC Increases Stock Position in The St. Joe Company (NYSE:JOE)

Old West Investment Management LLC lifted its stake in The St. Joe Company (NYSE:JOE) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,544 shares of the financial services provider’s stock after acquiring an additional 9,362 shares during the quarter. St. Joe accounts for about 1.8% of Old West Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Old West Investment Management LLC owned 0.13% of St. Joe worth $4,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in JOE. Vanguard Group Inc. lifted 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 valued at $334,213,000 after acquiring an additional 59,563 shares during the period. Dimensional Fund Advisors LP increased its position in shares of St. Joe by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,525,941 shares of the financial services provider’s stock valued at $83,467,000 after purchasing an additional 5,144 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of St. Joe by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 351,319 shares of the financial services provider’s stock worth $19,217,000 after purchasing an additional 11,113 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of St. Joe by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 289,875 shares of the financial services provider’s stock worth $17,445,000 after buying an additional 7,581 shares during the last quarter. Finally, Capital Research Global Investors grew its position in St. Joe by 41.0% during the fourth quarter. Capital Research Global Investors now owns 235,601 shares of the financial services provider’s stock valued at $14,178,000 after buying an additional 68,500 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

St. Joe Stock Down 0.4 %

Shares of JOE stock opened at $58.63 on Tuesday. The company has a 50 day simple moving average of $58.89 and a two-hundred day simple moving average of $56.81. The stock has a market cap of $3.42 billion, a P/E ratio of 41.88 and a beta of 1.26. The St. Joe Company has a 12 month low of $45.93 and a 12 month high of $64.69. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.87.

St. Joe (NYSE:JOE) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.42 EPS for the quarter. The firm had revenue of $111.60 million during the quarter. St. Joe had a return on equity of 10.07% and a net margin of 18.32%.

St. Joe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were given a dividend of $0.14 per share. This is a boost from St. Joe’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, August 9th. St. Joe’s payout ratio is presently 40.00%.

Insider Activity at St. Joe

In other St. Joe news, Director Bruce R. Berkowitz sold 28,100 shares of St. Joe stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $62.98, for a total transaction of $1,769,738.00. Following the transaction, the director now owns 18,172,524 shares of the company’s stock, valued at $1,144,505,561.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other St. Joe news, Director Bruce R. Berkowitz sold 51,600 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $62.28, for a total value of $3,213,648.00. Following the completion of the sale, the director now owns 18,030,924 shares in the company, valued at approximately $1,122,965,946.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Berkowitz sold 28,100 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $62.98, for a total value of $1,769,738.00. Following the sale, the director now directly owns 18,172,524 shares in the company, valued at $1,144,505,561.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 285,000 shares of company stock worth $17,558,573. 38.80% of the stock is owned by company insiders.

St. Joe 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.