Verity Asset Management Inc. Purchases Shares of 9,015 World Kinect Co. (NYSE:WKC)

Verity Asset Management Inc. acquired a new position in shares of World Kinect Co. (NYSE:WKC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,015 shares of the company’s stock, valued at approximately $238,000.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in World Kinect by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock worth $186,637,000 after acquiring an additional 146,899 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of World Kinect in the fourth quarter valued at $90,585,000. Brandes Investment Partners LP acquired a new stake in World Kinect during the 4th quarter valued at $57,423,000. Principal Financial Group Inc. increased its stake in World Kinect by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,631,393 shares of the company’s stock worth $43,150,000 after buying an additional 52,930 shares during the period. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of World Kinect in the fourth quarter worth about $28,874,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Performance

NYSE:WKC traded down $0.92 during midday trading on Friday, reaching $26.64. 721,809 shares of the company traded hands, compared to its average volume of 501,635. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a fifty day moving average price of $26.11 and a 200 day moving average price of $25.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. World Kinect Co. has a twelve month low of $17.69 and a twelve month high of $28.60.

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

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.68 annualized dividend and a dividend yield of 2.55%. World Kinect’s payout ratio is currently 73.12%.

Wall Street Analyst Weigh In

Separately, 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 report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.00.

Insider Activity

In other news, Director Ken Bakshi sold 10,936 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the transaction, the director now owns 41,545 shares of the company’s stock, valued at $999,988.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the sale, the director now directly owns 41,545 shares of the company’s stock, valued at approximately $999,988.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. The disclosure for this sale can be found here. Corporate insiders own 2.90% 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.