Royce & Associates LP Invests $801,000 in World Kinect Co. (NYSE:WKC)

Royce & Associates LP purchased a new position in World Kinect Co. (NYSE:WKC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,115 shares of the company’s stock, valued at approximately $801,000. Royce & Associates LP owned about 0.05% of World Kinect at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WKC. Quest Partners LLC grew its holdings in shares of World Kinect by 678,100.0% in the third quarter. Quest Partners LLC now owns 6,782 shares of the company’s stock worth $210,000 after acquiring an additional 6,781 shares during the period. Intech Investment Management LLC bought a new stake in shares of World Kinect in the third quarter worth $454,000. Charles Schwab Investment Management Inc. grew its holdings in shares of World Kinect by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock worth $42,379,000 after acquiring an additional 4,201 shares during the period. Algert Global LLC grew its holdings in shares of World Kinect by 88.0% in the third quarter. Algert Global LLC now owns 138,560 shares of the company’s stock worth $4,283,000 after acquiring an additional 64,867 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of World Kinect by 244.6% in the third quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock worth $2,681,000 after acquiring an additional 61,572 shares during the period. Institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut their price objective on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.80.

World Kinect Stock Performance

NYSE:WKC opened at $27.98 on Friday. The stock has a 50-day simple moving average of $28.43 and a two-hundred day simple moving average of $28.63. World Kinect Co. has a 52-week low of $21.38 and a 52-week high of $31.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The firm has a market capitalization of $1.59 billion, a PE ratio of 26.40, a P/E/G ratio of 0.89 and a beta of 1.16.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. Analysts forecast that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Monday, March 31st. World Kinect’s dividend payout ratio (DPR) is 64.15%.

Insider Transactions at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

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.