Renaissance Technologies LLC Raises Stake in World Kinect Corporation $WKC

Renaissance Technologies LLC lifted its position in shares of World Kinect Corporation (NYSE:WKC) by 187.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 46,486 shares of the company’s stock after buying an additional 30,300 shares during the quarter. Renaissance Technologies LLC’s holdings in World Kinect were worth $1,072,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock valued at $14,879,000 after buying an additional 452,462 shares during the period. Caxton Associates LLP grew its stake in World Kinect by 2.6% in the 1st quarter. Caxton Associates LLP now owns 39,531 shares of the company’s stock worth $912,000 after acquiring an additional 991 shares during the period. Sei Investments Co. grew its stake in World Kinect by 27.9% in the 1st quarter. Sei Investments Co. now owns 42,618 shares of the company’s stock worth $983,000 after acquiring an additional 9,293 shares during the period. Lido Advisors LLC raised its holdings in World Kinect by 49.4% in the 1st quarter. Lido Advisors LLC now owns 15,690 shares of the company’s stock valued at $365,000 after acquiring an additional 5,186 shares during the last quarter. Finally, State of Wyoming raised its holdings in World Kinect by 48.2% in the 1st quarter. State of Wyoming now owns 16,024 shares of the company’s stock valued at $370,000 after acquiring an additional 5,212 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WKC shares. Morgan Stanley set a $30.00 price objective on World Kinect in a report on Wednesday, July 29th. Zacks Research upgraded World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded World Kinect from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings downgraded World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to MarketBeat, World Kinect currently has an average rating of “Hold” and an average price target of $30.00.

World Kinect Stock Performance

Shares of WKC stock opened at $36.12 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 1.06. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -11.25, a price-to-earnings-growth ratio of 0.57 and a beta of 1.17. World Kinect Corporation has a one year low of $22.21 and a one year high of $41.20. The company has a 50 day moving average price of $34.98 and a 200 day moving average price of $28.96.

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

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were given a $0.23 dividend. This is an increase from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. World Kinect’s dividend payout ratio is -28.66%.

Insider Buying and Selling

In related news, Chairman Michael J. Kasbar sold 25,000 shares of World Kinect stock in a transaction on Friday, July 10th. The stock was sold at an average price of $35.04, for a total value of $876,000.00. Following the transaction, the chairman owned 986,450 shares in the company, valued at approximately $34,565,208. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Manley sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $39.88, for a total value of $398,800.00. Following the sale, the director directly owned 54,116 shares of the company’s stock, valued at approximately $2,158,146.08. This trade represents a 15.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 118,445 shares of company stock valued at $4,232,940. 3.80% of the stock is currently owned by company insiders.

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.