Intech Investment Management LLC Has $1.78 Million Stock Position in World Kinect Corporation $WKC

Intech Investment Management LLC raised its position in World Kinect Corporation (NYSE:WKC) by 32.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 62,633 shares of the company’s stock after acquiring an additional 15,196 shares during the period. Intech Investment Management LLC owned approximately 0.11% of World Kinect worth $1,776,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning bought a new position in shares of World Kinect in the 2nd quarter worth $269,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of World Kinect by 4.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,538 shares of the company’s stock valued at $412,000 after buying an additional 640 shares in the last quarter. Boston Partners grew its holdings in shares of World Kinect by 1.4% during the second quarter. Boston Partners now owns 1,492,314 shares of the company’s stock valued at $41,367,000 after buying an additional 20,046 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of World Kinect by 149.2% during the second quarter. Campbell & CO Investment Adviser LLC now owns 99,340 shares of the company’s stock worth $2,816,000 after acquiring an additional 59,476 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of World Kinect by 14.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock worth $113,000 after acquiring an additional 503 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

World Kinect Stock Performance

Shares of WKC opened at $23.96 on Friday. The stock has a 50 day moving average of $25.50 and a 200 day moving average of $26.70. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.09, a PEG ratio of 1.31 and a beta of 1.32. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.54. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.07). World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the prior year, the firm posted $0.62 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. World Kinect’s dividend payout ratio is currently -10.34%.

Analysts Set New Price Targets

A number of research firms have issued reports on WKC. Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a research note on Monday. Raymond James Financial restated an “outperform” rating and issued a $33.00 target price (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Morgan Stanley decreased their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Finally, Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.75.

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.