Maryland State Retirement & Pension System Sells 397 Shares of World Kinect Co. (NYSE:WKC)

Maryland State Retirement & Pension System trimmed its holdings in shares of World Kinect Co. (NYSE:WKC) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,558 shares of the company’s stock after selling 397 shares during the quarter. Maryland State Retirement & Pension System’s holdings in World Kinect were worth $538,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Hennessy Advisors Inc. acquired a new stake in World Kinect during the 4th quarter worth $50,707,000. Boston Partners grew its stake in shares of World Kinect by 4.4% during the fourth quarter. Boston Partners now owns 1,492,026 shares of the company’s stock worth $41,226,000 after purchasing an additional 63,234 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in World Kinect by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock valued at $42,379,000 after purchasing an additional 4,201 shares during the last quarter. Geode Capital Management LLC lifted its stake in World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after buying an additional 22,077 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in World Kinect by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after buying an additional 56,952 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Stock Up 0.3 %

Shares of World Kinect stock opened at $28.15 on Tuesday. World Kinect Co. has a 1 year low of $21.38 and a 1 year high of $31.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The company has a market capitalization of $1.60 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The business has a 50-day moving average of $28.45 and a two-hundred day moving average of $28.63.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $10.57 billion. As a group, equities analysts predict that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, March 31st. World Kinect’s dividend payout ratio (DPR) is presently 64.15%.

Insider Buying and Selling at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Separately, 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 research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.80.

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.