MetLife Investment Management LLC Purchases 2,248 Shares of World Kinect Co. (NYSE:WKC)

MetLife Investment Management LLC boosted its holdings in shares of World Kinect Co. (NYSE:WKC) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,527 shares of the company’s stock after acquiring an additional 2,248 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of World Kinect worth $977,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new position in shares of World Kinect during the 4th quarter valued at $50,707,000. Invesco Ltd. increased its position in World Kinect by 30.6% during the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock worth $84,399,000 after buying an additional 719,631 shares during the last quarter. EVR Research LP raised its holdings in World Kinect by 163.0% during the fourth quarter. EVR Research LP now owns 710,000 shares of the company’s stock valued at $19,532,000 after buying an additional 440,000 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of World Kinect in the fourth quarter worth about $9,182,000. Finally, Amundi boosted its stake in shares of World Kinect by 1,254.3% during the 4th quarter. Amundi now owns 164,928 shares of the company’s stock worth $4,536,000 after acquiring an additional 152,750 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on WKC. Bank of America cut their price objective on World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus reduced their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st.

Insider Buying and Selling

In other news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

World Kinect Stock Performance

Shares of NYSE WKC opened at $25.81 on Friday. World Kinect Co. has a 12 month low of $22.71 and a 12 month high of $31.71. The company has a market cap of $1.46 billion, a P/E ratio of 24.35, a P/E/G ratio of 0.89 and a beta of 1.19. The business’s 50 day moving average is $26.54 and its two-hundred day moving average is $27.64. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. World Kinect’s revenue was down 13.7% compared to the same quarter last year. On average, equities analysts expect that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Monday, March 31st. World Kinect’s payout ratio is presently 283.33%.

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.