The Manufacturers Life Insurance Company Acquires Shares of 19,789 World Kinect Corporation $WKC

The Manufacturers Life Insurance Company acquired a new stake in World Kinect Corporation (NYSE:WKC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 19,789 shares of the company’s stock, valued at approximately $652,000.

A number of other hedge funds have also modified their holdings of WKC. Cassaday & Co Wealth Management LLC bought a new position in shares of World Kinect during the 1st quarter worth approximately $37,000. Aquatic Capital Management LLC bought a new stake in World Kinect in the third quarter valued at $61,000. Aster Capital Management DIFC Ltd grew its position in World Kinect by 977.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock valued at $62,000 after acquiring an additional 2,386 shares during the period. Clearstead Advisors LLC raised its stake in World Kinect by 108.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock worth $62,000 after acquiring an additional 1,372 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in World Kinect during the second quarter worth $96,000. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Stock Up 0.0%

NYSE:WKC opened at $35.41 on Monday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -11.03, a P/E/G ratio of 0.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 1.06. The stock’s fifty day moving average price is $36.24 and its two-hundred day moving average price is $29.90. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $41.20.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $0.75 by $0.54. The company had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. On average, analysts anticipate that World Kinect Corporation will post 3.6 EPS for the current year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, June 30th. This is a boost from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is currently -28.66%.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Paul H. Stebbins sold 33,445 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total value of $1,335,458.85. Following the transaction, the director directly owned 58,878 shares of the company’s stock, valued at approximately $2,350,998.54. This trade represents a 36.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael J. Kasbar sold 25,000 shares of World Kinect stock in a transaction on Friday, July 10th. The stock was sold at an average price of $35.04, for a total transaction of $876,000.00. Following the sale, the chairman directly owned 986,450 shares of the company’s stock, valued at $34,565,208. This represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 104,445 shares of company stock valued at $3,915,119. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WKC has been the subject of a number of analyst reports. Morgan Stanley set a $30.00 price objective on World Kinect in a report on Wednesday, July 29th. Wall Street Zen cut shares of World Kinect from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.00.

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.