Mutual of America Capital Management LLC Has $275,000 Position in World Kinect Co. (NYSE:WKC)

Mutual of America Capital Management LLC trimmed its position in shares of World Kinect Co. (NYSE:WKC) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,888 shares of the company’s stock after selling 964 shares during the period. Mutual of America Capital Management LLC’s holdings in World Kinect were worth $275,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in World Kinect by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock valued at $186,637,000 after purchasing an additional 146,899 shares during the period. PEAK6 Investments LLC acquired a new stake in World Kinect during the first quarter worth about $392,000. Price T Rowe Associates Inc. MD grew its position in World Kinect by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 133,378 shares of the company’s stock worth $3,529,000 after buying an additional 4,060 shares in the last quarter. Verity Asset Management Inc. bought a new position in World Kinect during the first quarter valued at about $238,000. Finally, Boston Partners raised its holdings in World Kinect by 12.4% in the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after acquiring an additional 149,433 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of NYSE WKC opened at $29.14 on Friday. World Kinect Co. has a 52-week low of $20.00 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The business has a fifty day moving average of $29.27 and a two-hundred day moving average of $27.57. The stock has a market cap of $1.69 billion, a PE ratio of 12.95, a PEG ratio of 1.13 and a beta of 1.26.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $11.77 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, equities research analysts expect that World Kinect Co. will post 2.12 earnings per share for the current fiscal year.

World Kinect announced that its board has authorized a share repurchase program on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Monday, September 30th. World Kinect’s dividend payout ratio is currently 30.22%.

Analysts Set New Price Targets

Several brokerages recently commented on WKC. Bank of America raised their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Morgan Stanley downgraded shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus lowered shares of World Kinect from a “buy” rating to a “hold” rating and dropped their price target for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.20.

World Kinect 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.