Royce & Associates LP bought a new stake in World Kinect Co. (NYSE:WKC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 29,115 shares of the company's stock, valued at approximately $801,000. Royce & Associates LP owned about 0.05% of World Kinect at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in World Kinect in the 4th quarter valued at $50,707,000. Great Lakes Advisors LLC acquired a new position in shares of World Kinect during the fourth quarter worth about $9,182,000. Amundi raised its holdings in World Kinect by 1,254.3% during the fourth quarter. Amundi now owns 164,928 shares of the company's stock worth $4,536,000 after purchasing an additional 152,750 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in World Kinect in the fourth quarter valued at about $2,295,000. Finally, Kingsview Wealth Management LLC purchased a new stake in World Kinect in the 4th quarter valued at approximately $2,248,000. Institutional investors and hedge funds own 97.06% of the company's stock.
Insider Buying and Selling at World Kinect
In other news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.
World Kinect Price Performance
Shares of WKC stock traded up $0.27 during midday trading on Wednesday, reaching $28.69. 501,710 shares of the company traded hands, compared to its average volume of 681,460. The firm's 50 day simple moving average is $28.46 and its two-hundred day simple moving average is $28.64. The firm has a market cap of $1.63 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. World Kinect Co. has a 1-year low of $21.38 and a 1-year high of $31.71.
World Kinect (NYSE:WKC - Get Free Report) last issued 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. The firm had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. On average, equities research analysts expect that World Kinect Co. will post 2.56 EPS for the current fiscal year.
World Kinect Dividend Announcement
The firm 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. The ex-dividend date is Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.37%. World Kinect's payout ratio is 64.15%.
Analyst Ratings Changes
Separately, Stifel Nicolaus reduced their price target on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.80.
View Our Latest Research Report on WKC
About World Kinect
(
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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