Renaissance Technologies LLC Sells 40,800 Shares of World Kinect Co. (NYSE:WKC)

Renaissance Technologies LLC reduced its position in World Kinect Co. (NYSE:WKC - Free Report) by 60.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,500 shares of the company's stock after selling 40,800 shares during the period. Renaissance Technologies LLC's holdings in World Kinect were worth $729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new position in shares of World Kinect during the fourth quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of World Kinect during the 3rd quarter valued at about $31,000. Headlands Technologies LLC bought a new stake in shares of World Kinect in the fourth quarter worth approximately $48,000. Centricity Wealth Management LLC bought a new position in World Kinect during the fourth quarter valued at approximately $74,000. Finally, New Age Alpha Advisors LLC bought a new position in World Kinect during the fourth quarter valued at approximately $98,000. 97.06% of the stock is owned by institutional investors.

Insider Activity

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 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 directly owns 1,019,063 shares of the company's stock, valued at $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company's stock.

World Kinect Stock Performance

Shares of WKC stock traded up $0.13 during mid-day trading on Wednesday, reaching $26.05. 592,288 shares of the company's stock traded hands, compared to its average volume of 772,254. 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 has a market capitalization of $1.48 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. World Kinect Co. has a 12 month low of $22.71 and a 12 month high of $31.71. The firm has a 50 day moving average price of $26.30 and a two-hundred day moving average price of $27.54.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS 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 during the quarter, compared to analysts' expectations of $10.47 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The business's quarterly revenue was down 13.7% on a year-over-year basis. On average, research analysts forecast that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were paid a $0.17 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.61%. World Kinect's dividend payout ratio (DPR) is presently 283.33%.

Wall Street Analysts Forecast Growth

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

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.