Arizona State Retirement System Sells 491 Shares of World Kinect Corporation (NYSE:WKC)

Arizona State Retirement System trimmed its stake in World Kinect Corporation (NYSE:WKC) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,660 shares of the company’s stock after selling 491 shares during the period. Arizona State Retirement System’s holdings in World Kinect were worth $472,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WKC. Headlands Technologies LLC bought a new position in shares of World Kinect during the fourth quarter valued at $48,000. New Age Alpha Advisors LLC purchased a new position in World Kinect in the fourth quarter worth about $98,000. EP Wealth Advisors LLC lifted its position in shares of World Kinect by 17.0% during the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company’s stock valued at $209,000 after buying an additional 1,104 shares in the last quarter. Eukles Asset Management lifted its position in shares of World Kinect by 17.6% during the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock valued at $221,000 after buying an additional 1,165 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of World Kinect during the 4th quarter valued at about $224,000. 97.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, 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 report on Friday, April 25th.

World Kinect Stock Performance

Shares of WKC stock opened at $28.04 on Tuesday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 116.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 1.00. World Kinect Corporation has a 12-month low of $22.71 and a 12-month high of $31.71. The business has a 50 day simple moving average of $28.13 and a 200 day simple moving average of $27.52.

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, beating analysts’ consensus estimates of $0.45 by $0.03. World Kinect had a net margin of 0.05% and a return on equity of 6.46%. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $10.47 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. On average, equities research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, June 17th. This is a positive change from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s payout ratio is currently 333.33%.

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.