LSV Asset Management Lowers Position in World Kinect Co. (NYSE:WKC)

LSV Asset Management reduced its stake in World Kinect Co. (NYSE:WKC) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,201,828 shares of the company’s stock after selling 24,900 shares during the period. LSV Asset Management’s holdings in World Kinect were worth $33,062,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WKC. Hennessy Advisors Inc. acquired a new stake in shares of World Kinect during the fourth quarter valued at about $50,707,000. Invesco Ltd. boosted its position in shares of World Kinect by 30.6% during the 4th quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock worth $84,399,000 after purchasing an additional 719,631 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of World Kinect during the 4th quarter worth approximately $9,182,000. Amundi increased its holdings in World Kinect by 1,254.3% in the 4th quarter. Amundi now owns 164,928 shares of the company’s stock valued at $4,536,000 after purchasing an additional 152,750 shares during the last quarter. Finally, Norges Bank purchased a new stake in World Kinect in the fourth quarter valued at approximately $3,315,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st.

World Kinect Stock Up 1.4 %

WKC stock opened at $23.90 on Friday. World Kinect Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.71. The company’s 50 day moving average price is $27.78 and its 200 day moving average price is $28.29. 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 firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 0.89 and a beta of 1.19.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. On average, equities research analysts anticipate that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be issued a $0.17 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.84%. World Kinect’s payout ratio is currently 64.15%.

Insider Buying and Selling

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by company insiders.

World Kinect Company 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.