13,545 Shares in World Kinect Co. (NYSE:WKC) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in World Kinect Co. (NYSE:WKC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,545 shares of the company’s stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WKC. Renaissance Technologies LLC grew its position in World Kinect by 76.6% in the 2nd quarter. Renaissance Technologies LLC now owns 139,500 shares of the company’s stock worth $3,599,000 after purchasing an additional 60,500 shares in the last quarter. Dimensional Fund Advisors LP grew its position in World Kinect by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after purchasing an additional 140,314 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in World Kinect by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 85,434 shares of the company’s stock worth $2,204,000 after purchasing an additional 2,865 shares in the last quarter. Envestnet Asset Management Inc. grew its position in World Kinect by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock worth $1,808,000 after purchasing an additional 773 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in World Kinect by 19.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 109,300 shares of the company’s stock worth $2,820,000 after purchasing an additional 17,900 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Activity at World Kinect

In related news, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at approximately $1,403,083.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other World Kinect 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 value of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Manley sold 16,000 shares of the 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 $1,403,083.92. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

World Kinect Stock Performance

Shares of WKC stock opened at $31.40 on Monday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 33.76, a PEG ratio of 1.08 and a beta of 1.24. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $27.73 and its 200 day moving average is $26.17. World Kinect Co. has a 12 month low of $17.69 and a 12 month high of $31.70.

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

World Kinect Announces Dividend

The firm also recently declared 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s payout ratio is currently 73.12%.

Analyst Ratings Changes

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

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.