Man Group plc Makes New $10.38 Million Investment in World Kinect Corporation $WKC

Man Group plc acquired a new stake in shares of World Kinect Corporation (NYSE:WKC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 315,085 shares of the company’s stock, valued at approximately $10,379,000.

Several other institutional investors and hedge funds have also modified their holdings of WKC. Cassaday & Co Wealth Management LLC purchased a new stake in shares of World Kinect in the first quarter worth about $37,000. Aquatic Capital Management LLC purchased a new position in World Kinect during the third quarter valued at approximately $61,000. Clearstead Advisors LLC raised its position in World Kinect by 108.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock valued at $62,000 after acquiring an additional 1,372 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in World Kinect by 977.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock valued at $62,000 after acquiring an additional 2,386 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in World Kinect in the second quarter valued at approximately $96,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Down 0.6%

Shares of WKC opened at $35.61 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $41.20. The stock’s 50 day moving average is $35.92 and its two-hundred day moving average is $29.59. The firm has a market cap of $1.82 billion, a P/E ratio of -11.09, a PEG ratio of 0.55 and a beta of 1.17.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.54. The business had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The business’s revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Analysts predict that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s payout ratio is presently -28.66%.

Insider Activity at World Kinect

In other World Kinect news, Director Paul H. Stebbins sold 33,445 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total transaction of $1,335,458.85. Following the completion of the transaction, the director directly owned 58,878 shares in the company, valued at approximately $2,350,998.54. This represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael J. Kasbar sold 10,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.41, for a total transaction of $394,100.00. Following the transaction, the chairman directly owned 976,450 shares in the company, valued at approximately $38,481,894.50. The trade was a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 124,445 shares of company stock worth $4,455,900 in the last quarter. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on WKC. Weiss Ratings cut shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Morgan Stanley set a $30.00 price target on shares of World Kinect in a report on Wednesday, July 29th. Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of World Kinect from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, World Kinect has a consensus rating of “Hold” and a consensus target price of $30.00.

World Kinect Company Profile

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.