Insider Selling: World Kinect Co. (NYSE:WKC) Director Sells 16,000 Shares of Stock

World Kinect Co. (NYSE:WKC) Director John L. Manley sold 16,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at $1,403,083.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

World Kinect Price Performance

NYSE WKC traded down $0.37 on Thursday, hitting $27.56. The company had a trading volume of 452,792 shares, compared to its average volume of 543,884. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The company’s fifty day moving average price is $26.02 and its 200-day moving average price is $24.96. The company has a market capitalization of $1.63 billion, a PE ratio of 30.03, a PEG ratio of 1.08 and a beta of 1.24. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $28.60.

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

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, June 17th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Monday, June 17th. World Kinect’s payout ratio is 73.12%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Stifel Nicolaus decreased their price objective on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company 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 assigned a buy rating to the stock. According to MarketBeat.com, World Kinect presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $90,585,000. Brandes Investment Partners LP acquired a new position in World Kinect in the 4th quarter valued at about $57,423,000. Principal Financial Group Inc. purchased a new stake in shares of World Kinect in the 4th quarter valued at approximately $35,957,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of World Kinect in the 4th quarter valued at approximately $28,874,000. Finally, Boston Partners acquired a new stake in shares of World Kinect during the 4th quarter worth approximately $27,475,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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.