Atria Investments Inc Trims Stake in World Kinect Co. (NYSE:WKC)

Atria Investments Inc lowered its stake in World Kinect Co. (NYSE:WKC) by 2.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,481 shares of the company’s stock after selling 975 shares during the period. Atria Investments Inc’s holdings in World Kinect were worth $894,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WKC. HHM Wealth Advisors LLC purchased a new position in shares of World Kinect during the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of World Kinect during the 3rd quarter worth $31,000. Quarry LP lifted its stake in shares of World Kinect by 3,600.0% during the 3rd quarter. Quarry LP now owns 1,073 shares of the company’s stock worth $33,000 after purchasing an additional 1,044 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of World Kinect during the 4th quarter worth $74,000. Finally, KBC Group NV lifted its stake in shares of World Kinect by 60.2% during the 4th quarter. KBC Group NV now owns 3,597 shares of the company’s stock worth $99,000 after purchasing an additional 1,351 shares during the period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Trading Down 0.6 %

WKC stock opened at $27.79 on Thursday. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 0.89 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $28.31 and a 200-day simple moving average of $28.64.

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

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 annualized dividend and a yield of 2.45%. World Kinect’s dividend payout ratio is currently 64.15%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, World Kinect currently has an average rating of “Hold” and a consensus price target of $29.80.

Insider Activity at World Kinect

In other 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 completion of the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

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.