Semanteon Capital Management LP Makes New Investment in World Kinect Co. (NYSE:WKC)

Semanteon Capital Management LP purchased a new position in World Kinect Co. (NYSE:WKC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 54,798 shares of the company’s stock, valued at approximately $1,248,000. World Kinect makes up about 0.8% of Semanteon Capital Management LP’s holdings, making the stock its 16th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in shares of World Kinect in the 3rd quarter worth about $157,793,000. Exchange Traded Concepts LLC purchased a new position in shares of World Kinect in the 4th quarter worth about $777,000. Nordea Investment Management AB purchased a new position in shares of World Kinect in the 4th quarter worth about $3,843,000. North Star Investment Management Corp. purchased a new position in shares of World Kinect in the 4th quarter worth about $1,139,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of World Kinect in the 4th quarter worth about $208,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on WKC. Raymond James raised their price objective on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. initiated coverage on World Kinect in a report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 target price on the stock. Finally, Bank of America raised their target price on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.75.

World Kinect Stock Down 1.4 %

Shares of NYSE:WKC traded down $0.36 during mid-day trading on Thursday, hitting $24.68. 426,891 shares of the company traded hands, compared to its average volume of 542,296. The firm has a market cap of $1.48 billion, a P/E ratio of 29.38, a PEG ratio of 2.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.11. World Kinect Co. has a 52-week low of $17.69 and a 52-week high of $26.83. The firm’s 50 day simple moving average is $25.15 and its 200 day simple moving average is $22.83.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. During the same quarter last year, the firm earned $0.54 EPS. On average, equities analysts anticipate that World Kinect Co. will post 2.25 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, March 22nd. This is a positive change from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s dividend payout ratio (DPR) is 80.95%.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total transaction of $487,400.00. Following the completion of the sale, the director now owns 75,375 shares in the company, valued at approximately $1,836,888.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by insiders.

World Kinect Company Profile

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.