World Kinect (NYSE:WKC) Hits New 12-Month High at $28.77

World Kinect Co. (NYSE:WKC) reached a new 52-week high during trading on Monday . The stock traded as high as $28.77 and last traded at $28.76, with a volume of 16148 shares traded. The stock had previously closed at $28.37.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a 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 given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.00.

World Kinect Trading Down 0.2 %

The stock has a 50 day simple moving average of $26.55 and a 200-day simple moving average of $25.59. The firm has a market capitalization of $1.69 billion, a P/E ratio of 30.38, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last released 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). The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, equities research analysts forecast that World Kinect Co. will post 2.16 EPS for the current fiscal year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, June 17th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.41%. World Kinect’s payout ratio is currently 73.12%.

Insider Activity

In other news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Michael J. Kasbar sold 58,948 shares of the business’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 value of $1,645,828.16. Following the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the transaction, the director now directly owns 49,614 shares in the company, valued at $1,403,083.92. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WKC. Headlands Technologies LLC purchased a new position in World Kinect in the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of World Kinect during the 4th quarter worth approximately $32,000. Innealta Capital LLC purchased a new stake in shares of World Kinect during the 2nd quarter worth approximately $65,000. Assetmark Inc. purchased a new stake in shares of World Kinect during the 4th quarter worth approximately $96,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of World Kinect during the 4th quarter worth approximately $148,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

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.