Guggenheim Capital LLC Has $231,000 Holdings in World Kinect Co. (NYSE:WKC)

Guggenheim Capital LLC cut its position in shares of World Kinect Co. (NYSE:WKC) by 19.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,410 shares of the company’s stock after selling 1,983 shares during the quarter. Guggenheim Capital LLC’s holdings in World Kinect were worth $231,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WKC. Invesco Ltd. grew its holdings in World Kinect by 30.6% in the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock worth $84,399,000 after purchasing an additional 719,631 shares during the period. Hennessy Advisors Inc. acquired a new stake in World Kinect in the fourth quarter worth $50,707,000. Boston Partners grew its holdings in World Kinect by 4.4% in the fourth quarter. Boston Partners now owns 1,492,026 shares of the company’s stock worth $41,226,000 after purchasing an additional 63,234 shares during the period. Principal Financial Group Inc. grew its holdings in World Kinect by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after purchasing an additional 56,952 shares during the period. Finally, EVR Research LP lifted its stake in shares of World Kinect by 163.0% in the fourth quarter. EVR Research LP now owns 710,000 shares of the company’s stock valued at $19,532,000 after buying an additional 440,000 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by company insiders.

World Kinect Stock Up 2.9 %

WKC opened at $24.83 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The company’s 50-day moving average is $26.89 and its 200 day moving average is $27.75. World Kinect Co. has a fifty-two week low of $22.71 and a fifty-two week high of $31.71. The firm has a market capitalization of $1.41 billion, a P/E ratio of 23.42, a PEG ratio of 0.89 and a beta of 1.19.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same period last year, the firm earned $0.47 earnings per share. The firm’s revenue was down 13.7% on a year-over-year basis. Research analysts expect that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect’s payout ratio is currently 283.33%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Bank of America dropped their price objective on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday.

About World Kinect

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.