World Kinect Co. (NYSE:WKC) Shares Sold by Towle & Co.

Towle & Co. reduced its stake in shares of World Kinect Co. (NYSE:WKC) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 409,357 shares of the company’s stock after selling 96,220 shares during the period. World Kinect accounts for about 1.9% of Towle & Co.’s portfolio, making the stock its 27th largest holding. Towle & Co. owned approximately 0.70% of World Kinect worth $11,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new position in World Kinect in the fourth quarter worth approximately $25,000. Headlands Technologies LLC purchased a new position in World Kinect in the fourth quarter worth approximately $48,000. Centricity Wealth Management LLC purchased a new position in World Kinect in the fourth quarter worth approximately $74,000. New Age Alpha Advisors LLC purchased a new position in World Kinect in the fourth quarter worth approximately $98,000. Finally, KBC Group NV grew its position in World Kinect by 60.2% in the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock worth $99,000 after acquiring an additional 1,351 shares during the period. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. The trade was a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus decreased their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Bank of America decreased their price target 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.

World Kinect Stock Performance

Shares of WKC stock opened at $27.75 on Monday. The stock’s 50-day moving average is $26.13 and its two-hundred day moving average is $27.46. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 0.89 and a beta of 1.34. World Kinect Co. has a 1 year low of $22.71 and a 1 year 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.

World Kinect (NYSE:WKC) last released its quarterly 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. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business’s revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. Analysts predict that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.45%. World Kinect’s payout ratio is 283.33%.

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.