Brandywine Global Investment Management LLC grew its position in World Kinect Co. (NYSE:WKC - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,116 shares of the company's stock after purchasing an additional 19,835 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.34% of World Kinect worth $5,423,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Hennessy Advisors Inc. acquired a new stake in World Kinect in the 4th quarter valued at approximately $50,707,000. Great Lakes Advisors LLC acquired a new position in shares of World Kinect during the fourth quarter valued at $9,182,000. Amundi raised its stake in shares of World Kinect by 1,254.3% during the fourth quarter. Amundi now owns 164,928 shares of the company's stock valued at $4,536,000 after purchasing an additional 152,750 shares in the last quarter. Norges Bank acquired a new stake in World Kinect in the fourth quarter worth about $3,315,000. Finally, Moran Wealth Management LLC acquired a new stake in World Kinect in the fourth quarter worth about $2,295,000. Institutional investors own 97.06% of the company's stock.
World Kinect Price Performance
Shares of WKC traded down $1.47 during midday trading on Friday, reaching $24.79. The stock had a trading volume of 1,140,885 shares, compared to its average volume of 731,178. The firm's 50 day moving average price is $28.38 and its 200-day moving average price is $28.58. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71. The company has a market capitalization of $1.41 billion, a P/E ratio of 23.39, a P/E/G ratio of 0.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.
World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. On average, analysts forecast that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.
World Kinect Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 2.74%. World Kinect's dividend payout ratio (DPR) is 64.15%.
Insider Buying and Selling at World Kinect
In related news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect 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 transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $29,512,064.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus dropped their price target on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st.
Read Our Latest Research Report on WKC
World Kinect Company Profile
(
Free Report)
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.
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