Mutual of America Capital Management LLC Makes New Investment in World Kinect Co. (NYSE:WKC)

Mutual of America Capital Management LLC bought a new position in shares of World Kinect Co. (NYSE:WKC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,537 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WKC. Vanguard Group Inc. bought a new stake in World Kinect during the third quarter worth $157,793,000. Exchange Traded Concepts LLC acquired a new position in shares of World Kinect during the fourth quarter worth $777,000. Nordea Investment Management AB acquired a new position in shares of World Kinect during the fourth quarter worth $3,843,000. North Star Investment Management Corp. acquired a new position in shares of World Kinect during the fourth quarter worth $1,139,000. Finally, Legacy Wealth Asset Management LLC acquired a new position in shares of World Kinect during the fourth quarter worth $208,000. 97.06% of the stock is currently owned by institutional investors.

World Kinect Stock Performance

NYSE WKC opened at $25.17 on Wednesday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 2.19 and a beta of 1.26. World Kinect Co. has a twelve month low of $17.69 and a twelve month high of $26.83. The stock has a fifty day simple moving average of $25.12 and a 200 day simple moving average of $22.80. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.42.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.23 billion. During the same period last year, the business posted $0.54 EPS. Sell-side analysts expect that World Kinect Co. will post 2.25 EPS for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were issued a dividend of $0.17 per share. This is an increase from World Kinect’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, March 22nd. World Kinect’s dividend payout ratio (DPR) is presently 80.95%.

Insiders Place Their Bets

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the 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 completion of 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 hyperlink. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WKC. JPMorgan Chase & Co. began coverage on shares of World Kinect in a report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 price target for the company. Bank of America upped their price target on shares of World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Thursday, March 14th. Finally, Raymond James upped their price target on shares of World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.75.

About World Kinect

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.