Rhumbline Advisers Has $5.20 Million Holdings in World Kinect Co. (NYSE:WKC)

Rhumbline Advisers cut its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,394 shares of the company's stock after selling 25,586 shares during the quarter. Rhumbline Advisers owned 0.32% of World Kinect worth $5,201,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WKC. Savant Capital LLC grew its position in World Kinect by 16.5% during the fourth quarter. Savant Capital LLC now owns 7,573 shares of the company's stock worth $208,000 after buying an additional 1,071 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in World Kinect during the fourth quarter worth about $578,000. Centricity Wealth Management LLC acquired a new stake in World Kinect during the fourth quarter worth about $74,000. Proficio Capital Partners LLC acquired a new stake in World Kinect during the fourth quarter worth about $516,000. Finally, QRG Capital Management Inc. grew its position in World Kinect by 3.7% during the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company's stock worth $400,000 after buying an additional 517 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WKC has been the topic of a number of recent research reports. Stifel Nicolaus decreased their target price on World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Bank of America decreased their target price on 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 Price Performance

NYSE WKC traded up $0.43 during trading on Monday, reaching $28.42. 597,359 shares of the company traded hands, compared to its average volume of 777,484. 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 stock's 50 day moving average price is $26.26 and its two-hundred day moving average price is $27.41. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.89 and a beta of 1.35. World Kinect Co. has a 1-year low of $22.71 and a 1-year high of $31.71.

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 for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The company's quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, analysts anticipate that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, June 17th. This is an increase from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio (DPR) is presently 333.33%.

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.