Exchange Traded Concepts LLC Takes $777,000 Position in World Kinect Co. (NYSE:WKC)

Exchange Traded Concepts LLC acquired a new stake in shares of World Kinect Co. (NYSE:WKCFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,123 shares of the company’s stock, valued at approximately $777,000. Exchange Traded Concepts LLC owned approximately 0.06% of World Kinect as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of World Kinect by 0.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 44,844 shares of the company’s stock valued at $918,000 after purchasing an additional 413 shares in the last quarter. Captrust Financial Advisors grew its position in World Kinect by 18.3% in the second quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock worth $56,000 after acquiring an additional 419 shares in the last quarter. Toroso Investments LLC grew its position in World Kinect by 4.7% in the fourth quarter. Toroso Investments LLC now owns 14,613 shares of the company’s stock worth $399,000 after acquiring an additional 651 shares in the last quarter. Quarry LP grew its position in World Kinect by 154.9% in the first quarter. Quarry LP now owns 1,550 shares of the company’s stock worth $40,000 after acquiring an additional 942 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in World Kinect by 1.1% in the third quarter. UBS Asset Management Americas Inc. now owns 89,096 shares of the company’s stock worth $2,088,000 after acquiring an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WKC. JPMorgan Chase & Co. began coverage on World Kinect in a research report on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 price target for the company. Bank of America lifted their price target on World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.25.

Read Our Latest Stock Report on World Kinect

Insider Activity

In other news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total transaction of $487,400.00. Following the completion of the sale, the director now owns 75,375 shares of the company’s stock, valued at $1,836,888.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

World Kinect Stock Up 2.5 %

Shares of NYSE WKC opened at $25.49 on Tuesday. The firm has a 50-day simple moving average of $23.46 and a two-hundred day simple moving average of $22.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 0.95. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $26.40. The company has a market cap of $1.53 billion, a P/E ratio of 30.35, a PEG ratio of 2.23 and a beta of 1.25.

World Kinect (NYSE:WKCGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Research analysts anticipate that World Kinect Co. will post 2.24 earnings per share for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s payout ratio is currently 66.67%.

World Kinect Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for World Kinect (NYSE:WKC)

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