World Kinect Corporation $WKC Shares Sold by State of Wyoming

State of Wyoming decreased its position in World Kinect Corporation (NYSE:WKC) by 85.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,372 shares of the company’s stock after selling 20,569 shares during the quarter. State of Wyoming’s holdings in World Kinect were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WKC. First Horizon Advisors Inc. lifted its stake in World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of World Kinect by 369.3% during the third quarter. Versant Capital Management Inc now owns 2,112 shares of the company’s stock worth $55,000 after purchasing an additional 1,662 shares during the period. Raymond James Financial Inc. bought a new position in shares of World Kinect in the 2nd quarter worth about $96,000. Parkside Financial Bank & Trust boosted its holdings in shares of World Kinect by 14.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock valued at $113,000 after buying an additional 503 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of World Kinect by 72.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,021 shares of the company’s stock valued at $171,000 after buying an additional 2,534 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WKC shares. Zacks Research raised shares of World Kinect from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, World Kinect currently has a consensus rating of “Reduce” and an average price target of $28.75.

World Kinect Price Performance

Shares of NYSE:WKC opened at $26.34 on Friday. The firm’s 50 day moving average is $25.57 and its two-hundred day moving average is $25.58. The firm has a market capitalization of $1.46 billion, a P/E ratio of -3.40, a PEG ratio of 1.24 and a beta of 1.13. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. World Kinect Corporation has a 52 week low of $22.70 and a 52 week high of $31.54.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, December 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.80 annualized dividend and a yield of 3.0%. World Kinect’s payout ratio is presently -10.34%.

World Kinect 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.