New York State Teachers Retirement System Has $1.49 Million Stock Position in World Kinect Corporation $WKC

New York State Teachers Retirement System reduced its stake in World Kinect Corporation (NYSE:WKC) by 28.3% during the 1st quarter, Holdings Channel reports. The firm owned 64,440 shares of the company’s stock after selling 25,383 shares during the period. New York State Teachers Retirement System’s holdings in World Kinect were worth $1,487,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Aquatic Capital Management LLC bought a new stake in World Kinect in the third quarter valued at about $61,000. Clearstead Advisors LLC boosted its holdings in World Kinect by 108.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock worth $62,000 after buying an additional 1,372 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in World Kinect by 977.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock worth $62,000 after buying an additional 2,386 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of World Kinect during the 2nd quarter worth about $96,000. Finally, Tower Research Capital LLC TRC grew its position in shares of World Kinect by 72.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,021 shares of the company’s stock worth $171,000 after buying an additional 2,534 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at World Kinect

In related news, Chairman Michael J. Kasbar sold 23,653 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $28.18, for a total value of $666,541.54. Following the completion of the transaction, the chairman owned 1,062,797 shares of the company’s stock, valued at approximately $29,949,619.46. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael John Kroll sold 2,100 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $27.30, for a total transaction of $57,330.00. Following the sale, the chief accounting officer directly owned 10,390 shares in the company, valued at $283,647. This trade represents a 16.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 107,928 shares of company stock worth $3,107,065. Company insiders own 3.80% of the company’s stock.

World Kinect Stock Up 2.4%

Shares of NYSE:WKC traded up $0.84 during mid-day trading on Friday, reaching $35.24. 1,014,154 shares of the stock were exchanged, compared to its average volume of 1,070,594. The stock’s 50 day simple moving average is $30.39 and its 200-day simple moving average is $26.85. World Kinect Corporation has a one year low of $22.21 and a one year high of $35.34. The company has a market cap of $1.81 billion, a P/E ratio of -3.45, a P/E/G ratio of 0.72 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.65.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.The firm had revenue of $9.69 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the business posted $0.48 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. As a group, equities research analysts predict that World Kinect Corporation will post 2.79 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be given a $0.23 dividend. This is a boost from World Kinect’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. World Kinect’s payout ratio is presently -9.01%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WKC. Weiss Ratings upgraded shares of World Kinect from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Wall Street Zen upgraded shares of World Kinect from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Morgan Stanley upped their target price on shares of World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Tuesday, May 5th. Finally, Zacks Research lowered shares of World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, World Kinect presently has a consensus rating of “Hold” and an average price target of $29.50.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.