Towle & Co. trimmed its stake in World Kinect Co. (NYSE:WKC - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 409,357 shares of the company's stock after selling 96,220 shares during the quarter. World Kinect makes up about 1.9% of Towle & Co.'s portfolio, making the stock its 27th biggest holding. Towle & Co. owned 0.70% of World Kinect worth $11,261,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of WKC. Invesco Ltd. boosted 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 period. Boston Partners raised its holdings in World Kinect by 4.4% in the 4th quarter. Boston Partners now owns 1,492,026 shares of the company's stock valued at $41,226,000 after acquiring an additional 63,234 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in World Kinect by 24.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company's stock valued at $30,804,000 after acquiring an additional 216,903 shares in the last quarter. EVR Research LP raised its holdings in World Kinect by 163.0% in the 4th quarter. EVR Research LP now owns 710,000 shares of the company's stock valued at $19,532,000 after acquiring an additional 440,000 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in World Kinect by 6.2% in the 4th quarter. Northern Trust Corp now owns 702,751 shares of the company's stock valued at $19,333,000 after acquiring an additional 41,227 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors.
Insider Buying and Selling at World Kinect
In related news, CEO Michael J. Kasbar sold 21,507 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company's stock.
World Kinect Price Performance
Shares of World Kinect stock traded up $0.22 during trading on Friday, reaching $27.34. 672,117 shares of the company's stock were exchanged, compared to its average volume of 778,738. The company has a market cap of $1.55 billion, a P/E ratio of 25.79, a PEG ratio of 0.89 and a beta of 1.34. World Kinect Co. has a 1-year low of $22.71 and a 1-year high of $31.71. 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 firm's 50-day moving average price is $26.06 and its 200 day moving average price is $27.48.
World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the previous year, the company posted $0.47 EPS. World Kinect's quarterly revenue was down 13.7% compared to the same quarter last year. As a group, research analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current year.
World Kinect Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.49%. World Kinect's dividend payout ratio (DPR) is presently 283.33%.
Analyst Ratings Changes
A number of equities analysts have recently commented on WKC shares. Stifel Nicolaus lowered their price target on 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 lowered their price target on World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a report on Friday, April 25th.
Check Out Our Latest Stock Report on WKC
About World Kinect
(
Free Report)
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.
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