World Kinect Co. (NYSE:WKC) Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its stake in World Kinect Co. (NYSE:WKC) by 1.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 31,049 shares of the company’s stock after buying an additional 509 shares during the period. SummerHaven Investment Management LLC’s holdings in World Kinect were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vest Financial LLC acquired a new position in shares of World Kinect during the 1st quarter valued at $1,680,000. GAMMA Investing LLC raised its position in World Kinect by 3,742.0% in the first quarter. GAMMA Investing LLC now owns 35,308 shares of the company’s stock valued at $1,001,000 after purchasing an additional 34,389 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of World Kinect during the fourth quarter worth about $1,725,000. Mackenzie Financial Corp lifted its stake in shares of World Kinect by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 20,252 shares of the company’s stock worth $557,000 after purchasing an additional 990 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of World Kinect in the fourth quarter worth about $505,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Trading Up 0.9%

Shares of NYSE WKC opened at $28.51 on Thursday. 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 stock’s 50 day moving average price is $26.00 and its two-hundred day moving average price is $27.45. World Kinect Co. has a 52-week low of $22.71 and a 52-week high of $31.71. The stock has a market capitalization of $1.61 billion, a P/E ratio of 26.89, a PEG ratio of 0.89 and a beta of 1.35.

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

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from World Kinect’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, June 17th. World Kinect’s dividend payout ratio is 333.33%.

Analysts Set New Price Targets

WKC has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, February 21st. Bank of America cut their price target on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a report on Friday, April 25th.

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.