Rhumbline Advisers Sells 5,027 Shares of World Kinect Co. (NYSE:WKC)

Rhumbline Advisers reduced its stake in shares of World Kinect Co. (NYSE:WKC) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,315 shares of the company’s stock after selling 5,027 shares during the quarter. Rhumbline Advisers owned 0.35% of World Kinect worth $5,271,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WKC. Innealta Capital LLC bought a new stake in World Kinect during the 2nd quarter valued at $65,000. Assetmark Inc. bought a new position in shares of World Kinect during the fourth quarter valued at about $96,000. PNC Financial Services Group Inc. purchased a new stake in shares of World Kinect during the fourth quarter worth about $148,000. EMC Capital Management grew its stake in shares of World Kinect by 29.2% in the first quarter. EMC Capital Management now owns 8,277 shares of the company’s stock worth $219,000 after purchasing an additional 1,870 shares during the last quarter. Finally, Versor Investments LP purchased a new position in World Kinect during the 2nd quarter valued at about $228,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America raised their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday. Stifel Nicolaus lowered their price objective on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, World Kinect has a consensus rating of “Hold” and a consensus target price of $28.20.

Insider Activity at World Kinect

In other World Kinect 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 transaction of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other World Kinect news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction dated 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 transaction, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Kasbar sold 58,948 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

World Kinect Price Performance

Shares of World Kinect stock opened at $29.00 on Monday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 31.18, 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. The stock has a 50 day moving average price of $27.23 and a 200-day moving average price of $25.96. World Kinect Co. has a one year low of $17.69 and a one year high of $29.16.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The company 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%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. Equities analysts expect that World Kinect Co. will post 2.15 EPS for the current year.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.34%. World Kinect’s dividend payout ratio (DPR) is 73.12%.

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.