Man Group plc Invests $10.38 Million in World Kinect Corporation $WKC

Man Group plc acquired a new stake in shares of World Kinect Corporation (NYSE:WKC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 315,085 shares of the company’s stock, valued at approximately $10,379,000. Man Group plc owned approximately 0.62% of World Kinect as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in World Kinect by 373.8% during the third quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock worth $41,598,000 after buying an additional 1,264,684 shares during the period. Brandes Investment Partners LP increased its holdings in shares of World Kinect by 30.9% in the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock valued at $90,106,000 after acquiring an additional 907,490 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of World Kinect by 235.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock valued at $14,879,000 after acquiring an additional 452,462 shares during the period. Pacer Advisors Inc. bought a new position in shares of World Kinect in the 4th quarter worth $9,427,000. Finally, Qube Research & Technologies Ltd raised its position in shares of World Kinect by 119.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 702,367 shares of the company’s stock worth $18,226,000 after acquiring an additional 382,340 shares in the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WKC has been the subject of several analyst reports. Weiss Ratings lowered shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Zacks Research raised shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of World Kinect from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley set a $30.00 target price on shares of World Kinect in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, World Kinect presently has a consensus rating of “Hold” and an average price target of $30.00.

World Kinect Trading Down 0.6%

Shares of NYSE:WKC opened at $35.61 on Friday. The business’s 50-day moving average is $35.92 and its 200 day moving average is $29.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $41.20. The firm has a market capitalization of $1.82 billion, a P/E ratio of -11.09, a P/E/G ratio of 0.55 and a beta of 1.17.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.54. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The business had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. On average, research analysts predict that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th were issued a $0.23 dividend. This is a boost from World Kinect’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 30th. World Kinect’s dividend payout ratio is currently -28.66%.

Insider Transactions at World Kinect

In related news, Director John L. Manley sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $39.88, for a total value of $398,800.00. Following the sale, the director owned 54,116 shares in the company, valued at $2,158,146.08. This represents a 15.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $37.16, for a total transaction of $222,960.00. Following the completion of the transaction, the executive vice president owned 35,676 shares in the company, valued at approximately $1,325,720.16. This trade represents a 14.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 124,445 shares of company stock valued at $4,455,900 over the last three months. Company insiders own 3.80% of the company’s stock.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.