World Kinect Co. (NYSE:WKC) Stock Position Increased by SG Americas Securities LLC

SG Americas Securities LLC grew its position in World Kinect Co. (NYSE:WKC) by 28.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,341 shares of the company’s stock after purchasing an additional 14,068 shares during the period. SG Americas Securities LLC owned approximately 0.11% of World Kinect worth $1,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in World Kinect in the 4th quarter worth approximately $2,822,000. Bank of Montreal Can raised its stake in World Kinect by 6.7% during the 2nd quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock valued at $13,697,000 after acquiring an additional 33,332 shares in the last quarter. Boston Partners grew its stake in shares of World Kinect by 12.4% in the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after purchasing an additional 149,433 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of World Kinect in the fourth quarter worth $8,913,000. Finally, Texas Permanent School Fund Corp increased its holdings in shares of World Kinect by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after purchasing an additional 682 shares during the period. Institutional investors own 97.06% of the company’s stock.

Insider Transactions at World Kinect

In related news, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

World Kinect Trading Down 0.9 %

World Kinect stock opened at $30.40 on Wednesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $31.70. The firm’s 50 day moving average price is $28.65 and its two-hundred day moving average price is $26.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. During the same period last year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts predict that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect declared that its board has authorized a stock buyback plan on Monday, September 9th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s payout ratio is 73.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Bank of America raised their price objective on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Monday, September 16th. Finally, Stifel Nicolaus lowered their price target on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, World Kinect presently has a consensus rating of “Hold” and a consensus price target of $30.40.

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.