New Age Alpha Advisors LLC Lowers Holdings in World Kinect Corporation (NYSE:WKC)

New Age Alpha Advisors LLC cut its position in World Kinect Corporation (NYSE:WKC) by 52.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,690 shares of the company’s stock after selling 1,857 shares during the quarter. New Age Alpha Advisors LLC’s holdings in World Kinect were worth $48,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its stake in World Kinect by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock worth $262,000 after purchasing an additional 451 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in World Kinect by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company’s stock worth $881,000 after purchasing an additional 509 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in World Kinect by 0.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock worth $1,799,000 after purchasing an additional 509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in World Kinect by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock worth $893,000 after purchasing an additional 707 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in World Kinect by 4.4% in the 4th quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock worth $491,000 after purchasing an additional 748 shares in the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Price Performance

Shares of NYSE:WKC opened at $25.09 on Tuesday. The company’s fifty day moving average price is $27.91 and its 200-day moving average price is $27.41. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.29, a PEG ratio of 1.15 and a beta of 1.39. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, equities research analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. This is an increase from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s payout ratio is -10.48%.

Analysts Set New Price Targets

Several analysts have issued reports on WKC shares. Bank of America lowered their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th. Morgan Stanley decreased their price target on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, World Kinect currently has an average rating of “Hold” and an average price target of $29.40.

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.