Dynamic Technology Lab Private Ltd Purchases New Position in World Kinect Co. (NYSE:WKC)

World Kinect logo Dynamic Technology Lab Private Ltd acquired a new position in shares of World Kinect Co. (NYSE:WKC – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,972 shares of the company’s stock, valued at approximately $455,000.

A number of other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in World Kinect in the 4th quarter valued at $9,660,000. Panagora Asset Management Inc. bought a new stake in shares of World Kinect in the fourth quarter valued at about $4,100,000. Legacy Capital Group California Inc. acquired a new position in shares of World Kinect in the fourth quarter valued at about $320,000. Massachusetts Financial Services Co. MA bought a new position in World Kinect during the fourth quarter worth about $1,885,000. Finally, Boston Partners acquired a new stake in World Kinect in the 4th quarter worth about $27,475,000. Institutional investors own 97.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on WKC shares. JPMorgan Chase & Co. started coverage on shares of World Kinect in a research report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 target price on the stock. Raymond James increased their price target on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Bank of America lifted their price objective on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.75.

Get Our Latest Stock Report on World Kinect

Insider Activity

In related news, Director Paul H. Stebbins sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total value of $487,400.00. Following the completion of the transaction, the director now owns 75,375 shares of the company’s stock, valued at approximately $1,836,888.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Paul H. Stebbins sold 20,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total transaction of $487,400.00. Following the sale, the director now owns 75,375 shares in the company, valued at approximately $1,836,888.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ken Bakshi sold 10,936 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the transaction, the director now owns 41,545 shares of the company’s stock, valued at $999,988.15. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

World Kinect Stock Up 1.2 %

Shares of WKC opened at $24.97 on Friday. The firm has a 50 day simple moving average of $25.17 and a two-hundred day simple moving average of $23.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.97. World Kinect Co. has a one year low of $17.69 and a one year high of $26.83. The company has a market cap of $1.50 billion, a P/E ratio of 26.85, a P/E/G ratio of 0.85 and a beta of 1.27.

World Kinect (NYSE:WKC – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The business had revenue of $10.95 billion for the quarter, compared to analyst estimates of $12.29 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. Research analysts forecast that World Kinect Co. will post 2.19 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th were issued a $0.17 dividend. The ex-dividend date was Friday, March 22nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s dividend payout ratio is 73.12%.

About World Kinect

(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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