World Kinect Co. (NYSE:WKC) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of World Kinect Co. (NYSE:WKC) by 3.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,176 shares of the company’s stock after acquiring an additional 947 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in World Kinect were worth $885,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WKC. Intech Investment Management LLC purchased a new stake in World Kinect in the third quarter valued at $454,000. Edgestream Partners L.P. boosted its position in shares of World Kinect by 369.1% in the 3rd quarter. Edgestream Partners L.P. now owns 63,542 shares of the company’s stock valued at $1,964,000 after purchasing an additional 49,997 shares during the period. HighTower Advisors LLC purchased a new position in World Kinect during the 3rd quarter worth approximately $297,000. Point72 Asset Management L.P. acquired a new position in World Kinect during the third quarter worth approximately $535,000. Finally, Quarry LP lifted its stake in World Kinect by 3,600.0% in the third quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after buying an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Activity at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.80.

World Kinect Stock Up 0.2 %

WKC opened at $28.42 on Wednesday. The business has a 50 day moving average price of $28.50 and a two-hundred day moving average price of $28.65. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71. The company has a market cap of $1.61 billion, a PE ratio of 26.81, a P/E/G ratio of 0.89 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. As a group, research analysts anticipate that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 2.39%. World Kinect’s dividend payout ratio is currently 64.15%.

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.