Rhumbline Advisers Cuts Stock Position in World Kinect Co. (NYSE:WKC)

Rhumbline Advisers lessened its holdings in shares of World Kinect Co. (NYSE:WKC - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,394 shares of the company's stock after selling 25,586 shares during the period. Rhumbline Advisers owned about 0.32% of World Kinect worth $5,201,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Invesco Ltd. lifted its stake 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 acquiring an additional 719,631 shares during the last quarter. Millennium Management LLC increased its stake in World Kinect by 639.9% in the fourth quarter. Millennium Management LLC now owns 508,959 shares of the company's stock worth $14,001,000 after purchasing an additional 440,168 shares during the period. EVR Research LP lifted its position in shares of World Kinect by 163.0% during the fourth quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after purchasing an additional 440,000 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of World Kinect by 311.1% during the fourth quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock valued at $7,176,000 after purchasing an additional 384,413 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of World Kinect by 118.7% during the fourth quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock valued at $17,378,000 after purchasing an additional 342,823 shares during the period. Institutional investors own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

WKC has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st. Bank of America reduced their target price on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th.

World Kinect Stock Down 1.3%

NYSE:WKC traded down $0.36 during mid-day trading on Friday, reaching $27.95. The company's stock had a trading volume of 603,927 shares, compared to its average volume of 775,753. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 1 year low of $22.71 and a 1 year high of $31.71. The stock has a fifty day moving average of $26.08 and a 200-day moving average of $27.45. The firm has a market capitalization of $1.58 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company's quarterly revenue was down 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Equities research analysts forecast that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, June 17th. This is an increase from World Kinect's previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. World Kinect's dividend payout ratio (DPR) is currently 333.33%.

About World Kinect

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.