River Road Asset Management LLC Has $9.19 Million Stock Holdings in World Kinect Co. (NYSE:WKC)

River Road Asset Management LLC cut its stake in shares of World Kinect Co. (NYSE:WKC) by 72.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 297,336 shares of the company’s stock after selling 792,427 shares during the period. River Road Asset Management LLC’s holdings in World Kinect were worth $9,191,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of World Kinect by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock valued at $186,637,000 after buying an additional 146,899 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of World Kinect by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock valued at $106,471,000 after buying an additional 140,314 shares during the last quarter. Brandes Investment Partners LP lifted its position in shares of World Kinect by 10.6% in the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock valued at $76,714,000 after buying an additional 284,560 shares during the last quarter. Boston Partners lifted its position in shares of World Kinect by 12.4% in the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after buying an additional 149,433 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of World Kinect by 6.5% in the second quarter. LSV Asset Management now owns 1,257,381 shares of the company’s stock valued at $32,440,000 after buying an additional 76,700 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

World Kinect Price Performance

World Kinect stock opened at $26.74 on Wednesday. The stock’s fifty day moving average price is $29.41 and its two-hundred day moving average price is $27.12. World Kinect Co. has a one year low of $19.72 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The firm has a market cap of $1.55 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.02 and a beta of 1.26.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the company earned $0.58 EPS. The company’s revenue was down 14.3% on a year-over-year basis. As a group, research analysts expect that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect declared that its Board of Directors has initiated a stock buyback plan on Monday, September 9th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 11% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.54%. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and cut their price objective for the company from $33.00 to $32.00 in a research report on Friday, October 25th. Morgan Stanley lowered World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Bank of America increased their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.20.

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.