Bahl & Gaynor Inc. Sells 160,678 Shares of World Kinect Co. (NYSE:WKC)

Bahl & Gaynor Inc. lessened its holdings in shares of World Kinect Co. (NYSE:WKC) by 79.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 40,497 shares of the company’s stock after selling 160,678 shares during the period. Bahl & Gaynor Inc.’s holdings in World Kinect were worth $1,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC bought a new stake in World Kinect during the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of World Kinect during the third quarter valued at approximately $31,000. Quarry LP grew 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 worth $33,000 after purchasing an additional 1,044 shares during the period. Centricity Wealth Management LLC bought a new position in World Kinect in the fourth quarter worth $74,000. Finally, Hara Capital LLC purchased a new position in World Kinect during the third quarter valued at $76,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Trading Down 0.7 %

NYSE WKC opened at $28.36 on Thursday. The stock’s fifty day moving average price is $28.25 and its 200-day moving average price is $28.63. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.61 billion, a P/E ratio of 26.75, a P/E/G ratio of 0.89 and a beta of 1.27. World Kinect Co. has a 12 month low of $21.38 and a 12 month high of $31.71.

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

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 annualized dividend and a yield of 2.40%. World Kinect’s dividend payout ratio is 64.15%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Two 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. Based on data from MarketBeat.com, World Kinect presently has an average rating of “Hold” and an average target price of $29.80.

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.