Inspire Investing LLC Has $389,000 Stake in World Kinect Corporation $WKC

Inspire Investing LLC boosted its holdings in shares of World Kinect Corporation (NYSE:WKC) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,724 shares of the company’s stock after buying an additional 1,645 shares during the quarter. Inspire Investing LLC’s holdings in World Kinect were worth $389,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in World Kinect by 94.5% during the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock worth $946,000 after buying an additional 16,211 shares during the last quarter. Natixis Advisors LLC acquired a new stake in shares of World Kinect in the first quarter valued at about $405,000. CWA Asset Management Group LLC acquired a new stake in shares of World Kinect in the first quarter valued at about $490,000. Entropy Technologies LP acquired a new stake in shares of World Kinect in the first quarter valued at about $310,000. Finally, Strs Ohio acquired a new stake in shares of World Kinect in the first quarter valued at about $740,000. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Stock Down 0.5%

NYSE WKC opened at $25.17 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a 50-day simple moving average of $26.01 and a 200 day simple moving average of $26.63. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.64. The stock has a market cap of $1.40 billion, a PE ratio of -3.30, a PEG ratio of 1.15 and a beta of 1.31.

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

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. World Kinect’s payout ratio is presently -10.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WKC shares. Morgan Stanley lowered their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of World Kinect in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $33.00 price target (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Finally, Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, World Kinect currently has a consensus rating of “Hold” and an average target price of $28.75.

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.