GSA Capital Partners LLP acquired a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 64,395 shares of the company's stock, valued at approximately $1,990,000. GSA Capital Partners LLP owned about 0.11% of World Kinect at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in World Kinect by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company's stock valued at $779,000 after acquiring an additional 400 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of World Kinect by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company's stock worth $1,394,000 after purchasing an additional 682 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in World Kinect by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company's stock valued at $1,808,000 after buying an additional 773 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of World Kinect by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 12,062 shares of the company's stock valued at $319,000 after acquiring an additional 829 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in World Kinect by 20.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company's stock valued at $179,000 after purchasing an additional 1,189 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.
World Kinect Trading Down 1.0 %
NYSE:WKC traded down $0.29 during mid-day trading on Wednesday, reaching $27.85. The company's stock had a trading volume of 490,815 shares, compared to its average volume of 660,507. The stock has a market cap of $1.62 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.09 and a beta of 1.26. World Kinect Co. has a twelve month low of $19.97 and a twelve month high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The company's fifty day simple moving average is $29.38 and its two-hundred day simple moving average is $27.22.
World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $11.77 billion. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. World Kinect's revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. On average, equities analysts predict that World Kinect Co. will post 2.12 EPS for the current year.
World Kinect announced that its board has initiated a stock buyback program on Monday, September 9th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 11% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.
World Kinect Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.44%. The ex-dividend date was Monday, September 30th. World Kinect's dividend payout ratio is 30.22%.
Insiders Place Their Bets
In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares of the company's stock, valued at approximately $28,452,238.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.90% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on WKC shares. Stifel Nicolaus downgraded World Kinect from a "buy" rating to a "hold" rating and cut their price objective for the company from $33.00 to $32.00 in a report on Friday, October 25th. Morgan Stanley cut shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 target price for the company. in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price target on World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Finally, Bank of America increased their price objective on World Kinect from $24.00 to $27.00 and gave the company an "underperform" rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.20.
Read Our Latest Stock Analysis on World Kinect
World Kinect Company Profile
(
Free Report)
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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