LSV Asset Management Makes New Investment in World Kinect Co. (NYSE:WKC)

LSV Asset Management purchased a new stake in World Kinect Co. (NYSE:WKC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,157,812 shares of the company’s stock, valued at approximately $26,375,000. LSV Asset Management owned 1.92% of World Kinect at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in shares of World Kinect during the 3rd quarter valued at approximately $157,793,000. Exchange Traded Concepts LLC acquired a new stake in World Kinect in the fourth quarter valued at $777,000. Nordea Investment Management AB purchased a new position in shares of World Kinect in the fourth quarter valued at $3,843,000. North Star Investment Management Corp. acquired a new position in shares of World Kinect during the 4th quarter worth $1,139,000. Finally, Legacy Wealth Asset Management LLC purchased a new stake in shares of World Kinect in the 4th quarter worth about $208,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at World Kinect

In related news, Director Paul H. Stebbins sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owns 75,375 shares in the company, valued at approximately $1,836,888.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

World Kinect Stock Up 0.8 %

Shares of NYSE:WKC opened at $23.93 on Monday. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $26.83. The stock has a 50-day simple moving average of $25.06 and a 200-day simple moving average of $22.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market capitalization of $1.43 billion, a P/E ratio of 25.73, a PEG ratio of 2.19 and a beta of 1.27.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities analysts forecast that World Kinect Co. will post 2.19 earnings per share for the current year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Friday, March 22nd. This is a boost from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s payout ratio is currently 73.12%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WKC shares. JPMorgan Chase & Co. began 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 for the company. Bank of America lifted their price objective on World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Thursday, March 14th. Finally, Raymond James raised 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. 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.75.

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.