Parkside Financial Bank & Trust Invests $45,000 in World Kinect Co. (NYSE:WKC)

Parkside Financial Bank & Trust bought a new position in shares of World Kinect Co. (NYSE:WKC) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,977 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors have also modified their holdings of WKC. Vanguard Group Inc. bought a new position in shares of World Kinect during the 3rd quarter valued at about $157,793,000. Exchange Traded Concepts LLC bought a new stake in World Kinect in the 4th quarter valued at approximately $777,000. Nordea Investment Management AB bought a new stake in World Kinect in the 4th quarter valued at approximately $3,843,000. North Star Investment Management Corp. bought a new stake in World Kinect in the 4th quarter valued at approximately $1,139,000. Finally, Legacy Wealth Asset Management LLC bought a new stake in World Kinect in the 4th quarter valued at approximately $208,000. Institutional investors own 97.06% of the company’s stock.

World Kinect Stock Down 6.8 %

WKC stock opened at $23.01 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.38 billion, a PE ratio of 24.74, a PEG ratio of 2.20 and a beta of 1.26. World Kinect Co. has a 1-year low of $17.69 and a 1-year high of $26.83. The business’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $22.84.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. During the same period in the previous year, the firm earned $0.54 EPS. As a group, research analysts anticipate that World Kinect Co. will post 2.25 EPS for the current year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from World Kinect’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. World Kinect’s payout ratio is presently 73.12%.

Insider Buying and Selling

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the transaction, the director now directly owns 75,375 shares of the company’s stock, valued at approximately $1,836,888.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on WKC. Bank of America boosted their target price on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. began coverage on World Kinect in a research note on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, Raymond James boosted their target price on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.75.

About World Kinect

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.