Bahl & Gaynor Inc. Sells 160,678 Shares of World Kinect Co. (NYSE:WKC)

Bahl & Gaynor Inc. decreased its stake in World Kinect Co. (NYSE:WKC - Free Report) by 79.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,497 shares of the company's stock after selling 160,678 shares during the period. Bahl & Gaynor Inc. owned about 0.07% of World Kinect worth $1,114,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in World Kinect in the third quarter worth $138,806,000. Hennessy Advisors Inc. purchased a new position in shares of World Kinect in the 4th quarter worth about $50,707,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of World Kinect by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company's stock worth $42,379,000 after purchasing an additional 4,201 shares in the last quarter. Geode Capital Management LLC increased its position in shares of World Kinect by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock valued at $42,358,000 after purchasing an additional 22,077 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of World Kinect by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after buying an additional 56,952 shares in the last quarter. Institutional investors own 97.06% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reduced their price target on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.80.

World Kinect Stock Down 0.7 %

WKC opened at $28.36 on Thursday. The company has a market cap of $1.61 billion, a P/E ratio of 26.75, a P/E/G ratio of 0.89 and a beta of 1.27. World Kinect Co. has a 12 month low of $21.38 and a 12 month high of $31.71. The business's 50-day moving average price is $28.25 and its 200-day moving average price is $28.63. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $10.57 billion. On average, equities analysts expect that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect's dividend payout ratio (DPR) is presently 64.15%.

World Kinect Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.

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