Hotchkis & Wiley Capital Management LLC Cuts Stock Position in World Kinect Co. (NYSE:WKC)

Hotchkis & Wiley Capital Management LLC cut its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,661 shares of the company's stock after selling 34,700 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.76% of World Kinect worth $13,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hara Capital LLC acquired a new stake in World Kinect in the third quarter worth approximately $76,000. Innealta Capital LLC bought a new stake in World Kinect during the second quarter valued at about $65,000. Everence Capital Management Inc. bought a new stake in World Kinect during the third quarter valued at about $210,000. Quest Partners LLC lifted its stake in shares of World Kinect by 678,100.0% in the third quarter. Quest Partners LLC now owns 6,782 shares of the company's stock valued at $210,000 after buying an additional 6,781 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of World Kinect by 20.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company's stock valued at $179,000 after buying an additional 1,189 shares during the period. 97.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WKC. Bank of America raised their price objective on shares of World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a report on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on shares of World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Stifel Nicolaus cut shares of 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 research report on Friday, October 25th. Finally, Morgan Stanley lowered shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price target on the stock. in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $30.20.

World Kinect Stock Down 1.7 %

Shares of World Kinect stock traded down $0.49 during trading hours on Wednesday, reaching $28.73. The company's stock had a trading volume of 939,062 shares, compared to its average volume of 657,524. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock's fifty day simple moving average is $29.13 and its two-hundred day simple moving average is $27.69. World Kinect Co. has a one year low of $20.00 and a one year high of $31.70. The company has a market capitalization of $1.67 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.14 and a beta of 1.28.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.62. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $11.77 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The firm's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. On average, research analysts forecast that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect announced that its Board of Directors has approved a stock buyback plan on Monday, September 9th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 11% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.37%. World Kinect's payout ratio is 30.22%.

About World Kinect

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.