Voloridge Investment Management LLC Has $7.26 Million Position in World Kinect Co. (NYSE:WKC)

Voloridge Investment Management LLC reduced its stake in World Kinect Co. (NYSE:WKC) by 39.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 264,024 shares of the company’s stock after selling 169,129 shares during the period. Voloridge Investment Management LLC’s holdings in World Kinect were worth $7,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. increased its holdings in shares of World Kinect by 3.7% in the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock valued at $400,000 after purchasing an additional 517 shares during the last quarter. Highland Capital Management LLC grew its stake in shares of World Kinect by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after acquiring an additional 547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of World Kinect by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock valued at $893,000 after acquiring an additional 707 shares in the last quarter. Vident Advisory LLC grew its stake in shares of World Kinect by 4.4% in the fourth quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock valued at $491,000 after acquiring an additional 748 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of World Kinect in the fourth quarter valued at about $25,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $29,512,064.48. This 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 can be accessed through the SEC website. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America decreased their price target on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus decreased their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st.

World Kinect Trading Up 0.8%

Shares of NYSE WKC opened at $27.34 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect Co. has a 52-week low of $22.71 and a 52-week high of $31.71. The firm has a 50 day moving average price of $26.06 and a two-hundred day moving average price of $27.47. The stock has a market cap of $1.55 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $10.47 billion. During the same period in the prior year, the company posted $0.47 earnings per share. World Kinect’s revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, equities analysts forecast that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.49%. The ex-dividend date was Monday, March 31st. World Kinect’s dividend payout ratio is presently 283.33%.

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.