Dimensional Fund Advisors LP Acquires 140,314 Shares of World Kinect Co. (NYSE:WKC)

Dimensional Fund Advisors LP boosted its holdings in World Kinect Co. (NYSE:WKC) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,126,784 shares of the company’s stock after purchasing an additional 140,314 shares during the period. Dimensional Fund Advisors LP owned approximately 6.89% of World Kinect worth $106,471,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake in World Kinect by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock worth $779,000 after purchasing an additional 400 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of World Kinect by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after acquiring an additional 682 shares during the period. Envestnet Asset Management Inc. increased its position in shares of World Kinect by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock valued at $1,808,000 after acquiring an additional 773 shares during the period. ProShare Advisors LLC increased its position in shares of World Kinect by 7.4% in the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock valued at $319,000 after acquiring an additional 829 shares during the period. Finally, Bahl & Gaynor Inc. increased its position in shares of World Kinect by 0.7% in the second quarter. Bahl & Gaynor Inc. now owns 187,018 shares of the company’s stock valued at $4,825,000 after acquiring an additional 1,292 shares during the period. 97.06% of the stock is owned by institutional investors.

Insider Transactions at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

World Kinect Price Performance

Shares of WKC opened at $30.72 on Tuesday. The stock has a market cap of $1.84 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. World Kinect Co. has a fifty-two week low of $17.69 and a fifty-two week high of $31.70. The firm’s 50-day simple moving average is $27.82 and its two-hundred day simple moving average is $26.22.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. World Kinect’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. Analysts anticipate that World Kinect Co. will post 2.15 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.21%. World Kinect’s dividend payout ratio is presently 73.12%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WKC. Bank of America boosted their price objective on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Friday, September 13th. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Monday, September 16th. Stifel Nicolaus reduced their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, World Kinect presently has a consensus rating of “Hold” and an average price target of $30.40.

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.