World Kinect Co. (NYSE:WKC) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH reduced its stake in World Kinect Co. (NYSE:WKC) by 38.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,596 shares of the company’s stock after selling 12,791 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in World Kinect were worth $531,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in World Kinect during the fourth quarter worth $310,000. New York State Common Retirement Fund purchased a new position in World Kinect during the 4th quarter valued at about $926,000. Yousif Capital Management LLC purchased a new position in World Kinect during the 4th quarter valued at about $927,000. Headlands Technologies LLC acquired a new position in World Kinect in the 4th quarter valued at about $29,000. Finally, Russell Investments Group Ltd. purchased a new stake in World Kinect during the fourth quarter worth about $1,634,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other news, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Manley sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the sale, the director now directly owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

World Kinect Stock Up 0.7 %

Shares of WKC traded up $0.21 during midday trading on Friday, reaching $28.79. The stock had a trading volume of 651,401 shares, compared to its average volume of 556,289. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.05 and a beta of 1.24. The company’s fifty day simple moving average is $26.74 and its two-hundred day simple moving average is $25.67. World Kinect Co. has a 1-year low of $17.69 and a 1-year high of $28.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.98 billion. During the same period last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that World Kinect Co. will post 2.16 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, June 17th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Monday, June 17th. World Kinect’s dividend payout ratio (DPR) is 73.12%.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

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.