World Kinect Co. (NYSE:WKC) Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in World Kinect Co. (NYSE:WKC) by 76.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,500 shares of the company’s stock after purchasing an additional 60,500 shares during the quarter. Renaissance Technologies LLC owned 0.23% of World Kinect worth $3,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in shares of World Kinect during the 2nd quarter valued at $65,000. PNC Financial Services Group Inc. purchased a new position in World Kinect in the fourth quarter valued at about $148,000. Privium Fund Management UK Ltd acquired a new position in World Kinect in the 2nd quarter worth about $208,000. Skyline Advisors Inc. acquired a new position in World Kinect in the 4th quarter worth about $214,000. Finally, EMC Capital Management raised its stake in shares of World Kinect by 29.2% during the 1st quarter. EMC Capital Management now owns 8,277 shares of the company’s stock worth $219,000 after purchasing an additional 1,870 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Stock Up 1.0 %

WKC stock opened at $30.81 on Monday. World Kinect Co. has a 52-week low of $17.69 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. The company has a 50-day moving average of $28.14 and a two-hundred day moving average of $26.39.

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

World Kinect Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, September 30th. World Kinect’s dividend payout ratio (DPR) is presently 73.12%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at World Kinect

In other World Kinect news, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the transaction, the director now owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

World Kinect 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.