World Kinect Co. (NYSE:WKC) Shares Sold by Towle & Co.

Towle & Co. lessened its stake in World Kinect Co. (NYSE:WKC) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 409,357 shares of the company’s stock after selling 96,220 shares during the quarter. World Kinect makes up approximately 1.9% of Towle & Co.’s holdings, making the stock its 27th biggest holding. Towle & Co.’s holdings in World Kinect were worth $11,261,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its stake in shares of World Kinect by 49.9% in the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company’s stock valued at $904,000 after purchasing an additional 10,944 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of World Kinect during the 4th quarter valued at about $2,978,000. Barclays PLC grew its position in shares of World Kinect by 18.6% during the 3rd quarter. Barclays PLC now owns 256,126 shares of the company’s stock valued at $7,918,000 after buying an additional 40,233 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of World Kinect during the 4th quarter valued at about $2,055,000. Finally, Verity Asset Management Inc. bought a new stake in shares of World Kinect during the 4th quarter valued at about $266,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insiders Place Their Bets

In other 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 owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

World Kinect Price Performance

NYSE WKC opened at $27.75 on Monday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 26.18, a P/E/G ratio of 0.89 and a beta of 1.34. World Kinect Co. has a 1 year low of $22.71 and a 1 year high of $31.71. The business’s fifty day moving average is $26.13 and its two-hundred day moving average is $27.46. 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 (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 firm had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $10.47 billion. During the same period in the previous year, the company posted $0.47 EPS. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. On average, research analysts forecast that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were given a $0.17 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. World Kinect’s payout ratio is 283.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Bank of America lowered their price objective on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a research report on Friday, April 25th.

World Kinect Company 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.