Algert Global LLC Purchases New Position in World Kinect Co. (NYSE:WKC)

Algert Global LLC purchased a new stake in shares of World Kinect Co. (NYSE:WKC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 73,693 shares of the company’s stock, valued at approximately $1,901,000. Algert Global LLC owned about 0.12% of World Kinect as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WKC. Louisiana State Employees Retirement System raised its stake in shares of World Kinect by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock worth $779,000 after acquiring an additional 400 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of World Kinect by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock worth $1,394,000 after acquiring an additional 682 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of World Kinect by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock worth $1,808,000 after acquiring an additional 773 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of World Kinect by 7.4% in the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock worth $319,000 after acquiring an additional 829 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of World Kinect by 20.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock worth $179,000 after acquiring an additional 1,189 shares during the last quarter. 97.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Stifel Nicolaus dropped their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Bank of America lifted their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Finally, Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.40.

Insider Activity at World Kinect

In related news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

World Kinect Stock Up 0.4 %

Shares of NYSE WKC opened at $30.92 on Thursday. The stock has a market cap of $1.85 billion, a P/E ratio of 33.11, a P/E/G ratio of 1.06 and a beta of 1.24. The firm has a 50 day moving average price of $28.31 and a 200 day moving average price of $26.48. 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 Co. has a 52-week low of $17.69 and a 52-week high of $31.70.

World Kinect (NYSE:WKC) last issued its quarterly earnings data 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). The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. Analysts expect that World Kinect Co. will post 2.15 EPS for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s dividend payout ratio is currently 73.12%.

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.