Renaissance Technologies LLC Cuts Holdings in World Kinect Co. (NYSE:WKC)

Renaissance Technologies LLC lowered its position in World Kinect Co. (NYSE:WKC) by 60.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,500 shares of the company’s stock after selling 40,800 shares during the period. Renaissance Technologies LLC’s holdings in World Kinect were worth $729,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC purchased a new position in World Kinect during the fourth quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of World Kinect during the 3rd quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in shares of World Kinect during the 4th quarter valued at approximately $48,000. Centricity Wealth Management LLC acquired a new stake in World Kinect in the 4th quarter valued at $74,000. Finally, New Age Alpha Advisors LLC purchased a new stake in World Kinect in the 4th quarter worth $98,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research report on Friday, April 25th. 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 research note on Friday, February 21st.

World Kinect Stock Up 1.4 %

Shares of NYSE WKC opened at $25.44 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $26.62 and a 200 day moving average of $27.67. World Kinect Co. has a 12-month low of $22.71 and a 12-month high of $31.71. The stock has a market cap of $1.44 billion, a PE ratio of 24.00, a P/E/G ratio of 0.89 and a beta of 1.19.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $9.45 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, sell-side analysts predict that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect’s dividend payout ratio (DPR) is presently 283.33%.

About World Kinect

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.