Bahl & Gaynor Inc. Sells 33,224 Shares of World Kinect Corporation $WKC

Key Points

• Bahl & Gaynor Inc. significantly reduced its stake in World Kinect Corporation, decreasing its position by 82.0% in the first quarter, leaving them with 7,273 shares valued at $206,000.
• World Kinect's stock recently experienced a 3.4% increase, with a current price of approximately $26.70, while analysts have set a consensus target price of $29.40.
• The company reported earnings per share of $0.59 for the last quarter, exceeding expectations, although it faced a negative net margin of 1.11% and had revenues below analyst forecasts.

Bahl & Gaynor Inc. lessened its position in World Kinect Corporation (NYSE:WKC - Free Report) by 82.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,273 shares of the company's stock after selling 33,224 shares during the period. Bahl & Gaynor Inc.'s holdings in World Kinect were worth $206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas grew its position in shares of World Kinect by 94.5% in the 1st quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company's stock valued at $946,000 after buying an additional 16,211 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of World Kinect during the 1st quarter valued at about $405,000. CWA Asset Management Group LLC bought a new stake in shares of World Kinect during the 1st quarter valued at about $490,000. Entropy Technologies LP bought a new stake in shares of World Kinect during the 1st quarter valued at about $310,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of World Kinect during the 4th quarter valued at about $1,725,000. Institutional investors and hedge funds own 97.06% of the company's stock.

World Kinect Trading Down 1.1%

Shares of WKC traded down $0.29 during trading hours on Thursday, hitting $26.82. The company had a trading volume of 962,554 shares, compared to its average volume of 700,716. The firm has a market cap of $1.49 billion, a P/E ratio of -3.51, a P/E/G ratio of 1.21 and a beta of 1.39. The stock's 50 day moving average price is $27.44 and its 200 day moving average price is $27.22. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, research analysts predict that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from World Kinect's previous quarterly dividend of $0.17. World Kinect's payout ratio is presently -10.48%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WKC shares. Raymond James Financial reissued an "outperform" rating and issued a $33.00 price objective (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Morgan Stanley decreased their price target on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $29.40.

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.