OP Asset Management Ltd Buys Shares of 326,481 World Kinect Corporation $WKC

OP Asset Management Ltd bought a new stake in shares of World Kinect Corporation (NYSE:WKC) in the 1st quarter, Holdings Channel.com reports. The fund bought 326,481 shares of the company’s stock, valued at approximately $7,532,000.

Several other institutional investors and hedge funds also recently modified their holdings of WKC. Villanova Investment Management Co LLC grew its position in shares of World Kinect by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 107,302 shares of the company’s stock valued at $2,514,000 after purchasing an additional 434 shares during the last quarter. Clearstead Advisors LLC raised its position in shares of World Kinect by 52.8% during the 3rd quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock worth $33,000 after purchasing an additional 436 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of World Kinect by 8.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,397 shares of the company’s stock worth $166,000 after purchasing an additional 503 shares during the last quarter. Lido Advisors LLC lifted its stake in World Kinect by 6.1% in the 4th quarter. Lido Advisors LLC now owns 10,504 shares of the company’s stock valued at $268,000 after buying an additional 608 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its stake in World Kinect by 5.0% in the 4th quarter. GF Fund Management CO. LTD. now owns 16,135 shares of the company’s stock valued at $378,000 after buying an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WKC. Morgan Stanley increased their target price on World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded World Kinect from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded World Kinect from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, World Kinect currently has an average rating of “Reduce” and a consensus price target of $29.50.

Insiders Place Their Bets

In related news, Director Richard A. Kassar sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $26.97, for a total value of $269,700.00. Following the completion of the transaction, the director directly owned 53,812 shares in the company, valued at approximately $1,451,309.64. This represents a 15.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Michael J. Kasbar sold 19,300 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.17, for a total value of $582,281.00. Following the completion of the transaction, the chairman owned 1,021,450 shares of the company’s stock, valued at $30,817,146.50. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 97,928 shares of company stock worth $2,773,265 in the last three months. Company insiders own 3.80% of the company’s stock.

World Kinect Stock Performance

Shares of WKC opened at $32.14 on Friday. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $32.42. The company’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $26.12. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -3.15, a PEG ratio of 0.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.05.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.31 by $0.44. The firm had revenue of $9.69 billion during the quarter, compared to analysts’ expectations of $9.29 billion. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. World Kinect’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. On average, sell-side analysts predict that World Kinect Corporation will post 2.79 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, June 30th. World Kinect’s payout ratio is -9.01%.

World Kinect Company Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.