KLP Kapitalforvaltning AS Takes $1.14 Million Position in World Kinect Co. (NYSE:WKC)

KLP Kapitalforvaltning AS purchased a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 41,100 shares of the company's stock, valued at approximately $1,137,000. KLP Kapitalforvaltning AS owned approximately 0.07% of World Kinect at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. HHM Wealth Advisors LLC bought a new stake in World Kinect during the fourth quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of World Kinect in the 3rd quarter worth $31,000. Quarry LP boosted its stake in World Kinect by 3,600.0% during the third quarter. Quarry LP now owns 1,073 shares of the company's stock valued at $33,000 after buying an additional 1,044 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in World Kinect during the fourth quarter worth about $74,000. Finally, KBC Group NV raised its position in World Kinect by 60.2% in the fourth quarter. KBC Group NV now owns 3,597 shares of the company's stock worth $99,000 after acquiring an additional 1,351 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Trading Down 7.3 %

Shares of World Kinect stock traded down $2.08 on Thursday, reaching $26.31. 813,750 shares of the company were exchanged, compared to its average volume of 728,118. 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 Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.71. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 0.89 and a beta of 1.15. The stock has a fifty day moving average price of $28.46 and a 200-day moving average price of $28.63.

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World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.57 billion. On average, analysts expect that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Monday, March 31st. World Kinect's dividend payout ratio is 64.15%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company's stock.

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.