World Kinect Corporation $WKC Position Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in World Kinect Corporation (NYSE:WKC) by 14.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,274 shares of the company’s stock after selling 1,184 shares during the quarter. Mutual of America Capital Management LLC’s holdings in World Kinect were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in shares of World Kinect by 94.5% in the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock worth $946,000 after buying an additional 16,211 shares during the last quarter. Natixis Advisors LLC acquired a new position in World Kinect during the 1st quarter worth $405,000. Entropy Technologies LP acquired a new position in World Kinect during the 1st quarter worth $310,000. Strs Ohio acquired a new position in World Kinect during the 1st quarter worth $740,000. Finally, Russell Investments Group Ltd. lifted its position in World Kinect by 60.6% during the 1st quarter. Russell Investments Group Ltd. now owns 87,902 shares of the company’s stock worth $2,493,000 after acquiring an additional 33,159 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Trading Up 0.9%

Shares of WKC stock opened at $25.90 on Friday. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.54. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -3.35, a P/E/G ratio of 1.31 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.15. The firm has a fifty day moving average of $26.04 and a 200-day moving average of $26.66.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.07). World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same period in the previous year, the business posted $0.62 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. World Kinect’s payout ratio is currently -10.34%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WKC shares. Raymond James Financial reissued an “outperform” rating and set a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of World Kinect in a report on Wednesday, October 8th. Morgan Stanley cut their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Finally, Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, World Kinect currently has an average rating of “Reduce” and a consensus price target of $28.75.

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.