Assenagon Asset Management S.A. Makes New $2.06 Million Investment in World Kinect Co. (NYSE:WKC)

Assenagon Asset Management S.A. acquired a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 74,689 shares of the company's stock, valued at approximately $2,055,000. Assenagon Asset Management S.A. owned approximately 0.13% of World Kinect at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WKC. Envestnet Asset Management Inc. lifted its position in World Kinect by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company's stock valued at $1,808,000 after purchasing an additional 773 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in World Kinect in the third quarter valued at approximately $31,000. Quarry LP lifted its stake in shares of World Kinect by 3,600.0% in the 3rd quarter. Quarry LP now owns 1,073 shares of the company's stock valued at $33,000 after purchasing an additional 1,044 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in World Kinect by 20.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company's stock worth $179,000 after buying an additional 1,189 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in World Kinect by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company's stock valued at $781,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors own 97.06% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered World Kinect from a "buy" rating to a "hold" rating and reduced their target price for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.20.

World Kinect Stock Up 1.3 %

Shares of World Kinect stock traded up $0.37 on Thursday, reaching $28.65. 448,892 shares of the company were exchanged, compared to its average volume of 598,328. World Kinect Co. has a one year low of $21.38 and a one year high of $31.70. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $28.00 and a 200 day moving average of $28.20. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.94 and a beta of 1.28.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The company's quarterly revenue was down 14.3% on a year-over-year basis. On average, equities research analysts forecast that World Kinect Co. will post 2.13 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Monday, December 23rd. World Kinect's dividend payout ratio (DPR) is currently 30.22%.

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.