First Trust Advisors LP Grows Stock Holdings in World Kinect Co. (NYSE:WKC)

First Trust Advisors LP grew its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,476 shares of the company's stock after purchasing an additional 26,573 shares during the period. First Trust Advisors LP owned about 0.24% of World Kinect worth $3,837,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. boosted its stake in World Kinect by 3.7% in 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. Highland Capital Management LLC boosted its stake in shares of World Kinect by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 8,728 shares of the company's stock valued at $240,000 after purchasing an additional 547 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of World Kinect during the 4th quarter valued at $25,000. Mitsubishi UFJ Trust & Banking Corp raised its position in World Kinect by 3.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company's stock worth $885,000 after purchasing an additional 947 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in World Kinect in the third quarter worth $31,000. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WKC. Bank of America decreased their price objective on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Friday, April 25th. Stifel Nicolaus lowered their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, February 21st.

World Kinect Stock Performance

World Kinect stock opened at $25.81 on Friday. World Kinect Co. has a 1-year low of $22.71 and a 1-year high of $31.71. The firm has a market cap of $1.46 billion, a P/E ratio of 24.35, a P/E/G ratio of 0.89 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $26.54 and a 200-day moving average of $27.64.

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

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were issued a $0.17 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 2.63%. World Kinect's dividend payout ratio (DPR) is presently 283.33%.

Insider Transactions at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.90% of the company's stock.

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.

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