Rhumbline Advisers Reduces Position in World Kinect Co. (NYSE:WKC)

Rhumbline Advisers decreased its holdings in shares of World Kinect Co. (NYSE:WKC) by 12.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 183,394 shares of the company’s stock after selling 25,586 shares during the quarter. Rhumbline Advisers owned 0.32% of World Kinect worth $5,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in World Kinect by 3.7% during the 4th quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock valued at $400,000 after acquiring an additional 517 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of World Kinect by 2.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock valued at $893,000 after purchasing an additional 707 shares during the period. Vident Advisory LLC grew its holdings in shares of World Kinect by 4.4% in the fourth quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock worth $491,000 after purchasing an additional 748 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in World Kinect by 3.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company’s stock worth $885,000 after buying an additional 947 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in World Kinect by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 20,252 shares of the company’s stock valued at $557,000 after buying an additional 990 shares in the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Stock Down 0.9%

NYSE:WKC opened at $28.28 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. World Kinect Co. has a 1-year low of $22.71 and a 1-year high of $31.71. The company has a 50-day moving average of $26.08 and a 200 day moving average of $27.45. The firm has a market cap of $1.60 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping 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 net margin of 0.16% and a return on equity of 6.43%. The company’s revenue was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, research analysts anticipate that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, June 17th. This is a boost from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s dividend payout ratio (DPR) is 333.33%.

Wall Street Analyst Weigh In

WKC has been the topic of a number of research analyst reports. 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 note on Friday, April 25th. Stifel Nicolaus dropped their price objective 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.

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.