Exchange Traded Concepts LLC Acquires New Holdings in World Kinect Co. (NYSE:WKC)

Exchange Traded Concepts LLC purchased a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,701 shares of the company's stock, valued at approximately $1,073,000. Exchange Traded Concepts LLC owned approximately 0.06% of World Kinect at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in World Kinect during the second quarter worth $65,000. PNC Financial Services Group Inc. bought a new position in shares of World Kinect in the fourth quarter valued at about $148,000. Point72 Asia Singapore Pte. Ltd. raised its position 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 purchasing an additional 1,189 shares during the period. Privium Fund Management UK Ltd bought a new position in shares of World Kinect in the second quarter valued at about $208,000. Finally, EMC Capital Management raised its position in shares of World Kinect by 29.2% in the first quarter. EMC Capital Management now owns 8,277 shares of the company's stock valued at $219,000 after purchasing an additional 1,870 shares during the period. 97.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other World Kinect news, Director John L. Manley sold 16,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at $1,403,083.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other World Kinect news, Director John L. Manley sold 16,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at $1,403,083.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 owns 1,019,063 shares in the company, valued at $28,452,238.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company's stock.

World Kinect Stock Performance

NYSE:WKC traded down $0.56 during mid-day trading on Thursday, reaching $30.65. 573,456 shares of the company's stock were exchanged, compared to its average volume of 634,059. World Kinect Co. has a one year low of $17.69 and a one year high of $31.70. The firm has a market capitalization of $1.84 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The business's fifty day simple moving average is $29.22 and its two-hundred day simple moving average is $26.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.08). World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. During the same period in the prior year, the business posted $0.48 earnings per share. World Kinect's revenue was down .1% compared to the same quarter last year. Analysts anticipate that World Kinect Co. will post 2.15 earnings per share for the current fiscal year.

World Kinect announced that its board has authorized a share repurchase plan on Monday, September 9th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.22%. World Kinect's payout ratio is 73.12%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WKC. Stifel Nicolaus dropped their price objective on shares of World Kinect from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, July 26th. Bank of America increased their price objective on shares of World Kinect from $24.00 to $27.00 and gave the company an "underperform" rating in a research report on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on shares of World Kinect from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, World Kinect presently has a consensus rating of "Hold" and a consensus price target of $30.40.

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.