Flax Pond Capital LLC Buys New Shares in World Kinect Corporation $WKC

Flax Pond Capital LLC bought a new position in shares of World Kinect Corporation (NYSE:WKC) during the fourth quarter, HoldingsChannel reports. The firm bought 27,544 shares of the company’s stock, valued at approximately $645,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in World Kinect by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock valued at $157,297,000 after acquiring an additional 62,111 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of World Kinect by 30.9% during the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock worth $90,106,000 after purchasing an additional 907,490 shares in the last quarter. Invesco Ltd. grew its holdings in shares of World Kinect by 9.5% during the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock worth $63,597,000 after purchasing an additional 213,145 shares in the last quarter. LSV Asset Management increased its position in shares of World Kinect by 11.4% during the fourth quarter. LSV Asset Management now owns 1,938,804 shares of the company’s stock valued at $45,426,000 after purchasing an additional 198,076 shares during the period. Finally, Millennium Management LLC increased its position in shares of World Kinect by 373.8% during the third quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock valued at $41,598,000 after purchasing an additional 1,264,684 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paul H. Stebbins sold 20,828 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $27.69, for a total transaction of $576,727.32. Following the sale, the director owned 40,669 shares in the company, valued at approximately $1,126,124.61. This represents a 33.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Kassar sold 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $26.97, for a total value of $269,700.00. Following the completion of the sale, the director owned 53,812 shares of the company’s stock, valued at approximately $1,451,309.64. This trade represents a 15.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 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.

Wall Street Analysts Forecast Growth

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

World Kinect Stock Performance

NYSE WKC opened at $31.04 on Friday. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $32.24. The company has a 50 day moving average of $27.75 and a 200-day moving average of $25.88. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -3.04, a PEG ratio of 0.64 and a beta of 1.22.

World Kinect (NYSE:WKC) last announced 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 business had revenue of $9.69 billion for the quarter, compared to the consensus estimate of $9.29 billion. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.World Kinect’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. On average, equities analysts forecast that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is presently -7.84%.

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.