Glenmede Trust Co. NA Sells 36,718 Shares of World Kinect Corporation $WKC

Glenmede Trust Co. NA lowered its position in World Kinect Corporation (NYSE:WKC) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 399,377 shares of the company’s stock after selling 36,718 shares during the quarter. Glenmede Trust Co. NA’s holdings in World Kinect were worth $9,214,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UBS Group AG raised its stake in shares of World Kinect by 38.1% in the fourth quarter. UBS Group AG now owns 226,440 shares of the company’s stock valued at $5,305,000 after purchasing an additional 62,492 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in World Kinect during the fourth quarter worth $9,427,000. Vanguard Group Inc. increased its holdings in World Kinect by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock valued at $157,297,000 after buying an additional 62,111 shares during the period. GSA Capital Partners LLP increased its holdings in World Kinect by 98.6% in the 4th quarter. GSA Capital Partners LLP now owns 96,774 shares of the company’s stock valued at $2,267,000 after buying an additional 48,048 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of World Kinect in the 4th quarter valued at $413,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of WKC stock opened at $39.06 on Tuesday. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $41.20. The firm’s 50 day moving average is $33.52 and its 200-day moving average is $28.33. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -12.17, a PEG ratio of 0.61 and a beta of 1.17. The company has a current ratio of 1.06, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.54. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Sell-side analysts forecast that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.23 per share. This is a boost from World Kinect’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, June 30th. World Kinect’s dividend payout ratio is presently -28.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WKC shares. Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley set a $30.00 price objective on World Kinect in a research note on Wednesday, July 29th. Wall Street Zen upgraded World Kinect from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Weiss Ratings lowered World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Insiders Place Their Bets

In other news, Director Paul H. Stebbins sold 33,445 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total value of $1,335,458.85. Following the completion of the transaction, the director owned 58,878 shares in the company, valued at $2,350,998.54. This represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael J. Kasbar sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $35.04, for a total value of $876,000.00. Following the transaction, the chairman owned 986,450 shares of the company’s stock, valued at approximately $34,565,208. The trade was a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 118,445 shares of company stock worth $4,108,540. Company insiders own 3.80% of the company’s stock.

World Kinect Company Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.