EMC Capital Management Grows Stock Position in World Kinect Co. (NYSE:WKC)

EMC Capital Management lifted its stake in shares of World Kinect Co. (NYSE:WKC) by 29.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,277 shares of the company’s stock after purchasing an additional 1,870 shares during the quarter. EMC Capital Management’s holdings in World Kinect were worth $219,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WKC. Headlands Technologies LLC purchased a new position in World Kinect in the fourth quarter worth $29,000. Allspring Global Investments Holdings LLC purchased a new position in World Kinect in the fourth quarter worth $32,000. Allworth Financial LP purchased a new position in shares of World Kinect in the fourth quarter valued at $35,000. Parkside Financial Bank & Trust purchased a new position in shares of World Kinect in the fourth quarter valued at $45,000. Finally, Assetmark Inc. purchased a new position in shares of World Kinect in the fourth quarter valued at $96,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, World Kinect currently has an average rating of “Hold” and an average target price of $28.00.

World Kinect Trading Down 3.3 %

NYSE:WKC traded down $0.92 during mid-day trading on Friday, reaching $26.64. The company’s stock had a trading volume of 721,809 shares, compared to its average volume of 545,085. The company’s fifty day simple moving average is $26.07 and its two-hundred day simple moving average is $24.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. World Kinect Co. has a twelve month low of $17.69 and a twelve month high of $28.60. The stock has a market cap of $1.57 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.07 and a beta of 1.24.

World Kinect (NYSE:WKC) last issued its quarterly earnings results 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). World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts predict that World Kinect Co. will post 2.16 EPS for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, June 17th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Monday, June 17th. World Kinect’s dividend payout ratio is currently 73.12%.

Insider Activity

In other news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ken Bakshi sold 10,936 shares of World Kinect stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the transaction, the director now directly owns 41,545 shares in the company, valued at $999,988.15. The disclosure for this sale can be found here. Corporate 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.