Dean Capital Management trimmed its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 57.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,027 shares of the company's stock after selling 38,722 shares during the period. Dean Capital Management owned approximately 0.05% of World Kinect worth $680,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in WKC. Vanguard Group Inc. increased its stake in World Kinect by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company's stock valued at $157,297,000 after acquiring an additional 62,111 shares during the period. Brandes Investment Partners LP raised its position in World Kinect by 30.9% in the fourth quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company's stock worth $90,106,000 after purchasing an additional 907,490 shares in the last quarter. Invesco Ltd. lifted its stake in World Kinect by 9.5% during the third quarter. Invesco Ltd. now owns 2,450,762 shares of the company's stock worth $63,597,000 after purchasing an additional 213,145 shares during the period. LSV Asset Management grew its stake in shares of World Kinect by 11.4% in the 4th quarter. LSV Asset Management now owns 1,938,804 shares of the company's stock valued at $45,426,000 after purchasing an additional 198,076 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of World Kinect by 373.8% in the 3rd quarter. Millennium Management LLC now owns 1,602,996 shares of the company's stock worth $41,598,000 after buying an additional 1,264,684 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on WKC. Morgan Stanley upped their target price on shares of World Kinect from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Tuesday, May 5th. Wall Street Zen raised shares of World Kinect from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Zacks Research lowered shares of World Kinect from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of World Kinect from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, World Kinect has an average rating of "Reduce" and an average target price of $29.50.
View Our Latest Report on World Kinect
Insider Buying and Selling at World Kinect
In related news, Chairman Michael J. Kasbar sold 19,300 shares of World Kinect stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.17, for a total value of $582,281.00. Following the transaction, the chairman directly owned 1,021,450 shares of the company's stock, valued at $30,817,146.50. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul H. Stebbins sold 20,828 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $27.69, for a total value of $576,727.32. Following the sale, the director owned 40,669 shares of the company's stock, valued at approximately $1,126,124.61. This represents a 33.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 97,928 shares of company stock worth $2,773,265. Insiders own 3.80% of the company's stock.
World Kinect Trading Down 0.2%
NYSE WKC opened at $31.04 on Friday. The company has a market capitalization of $1.59 billion, a PE ratio of -3.04, a P/E/G ratio of 0.64 and a beta of 1.22. The stock has a 50-day simple moving average of $27.75 and a 200 day simple moving average of $25.88. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $32.24.
World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.31 by $0.44. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. The firm had revenue of $9.69 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the company posted $0.48 EPS. The business's quarterly revenue was up 2.5% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Research analysts forecast that World Kinect Corporation will post 2.79 EPS for the current year.
World Kinect Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.23 per share. This is an increase 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 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. World Kinect's payout ratio is -7.84%.
About World Kinect
(
Free Report)
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.
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