CenterBook Partners LP Has $579,000 Stock Position in World Kinect Co. (NYSE:WKC)

CenterBook Partners LP lifted its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 220.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,050 shares of the company's stock after acquiring an additional 14,482 shares during the period. CenterBook Partners LP's holdings in World Kinect were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WKC. Invesco Ltd. increased its stake in shares of World Kinect by 30.6% in the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock valued at $84,399,000 after purchasing an additional 719,631 shares during the period. Cerity Partners LLC increased its position in World Kinect by 125.1% in the 4th quarter. Cerity Partners LLC now owns 15,001 shares of the company's stock valued at $426,000 after acquiring an additional 8,338 shares during the period. Federated Hermes Inc. bought a new stake in World Kinect during the 4th quarter valued at $2,436,000. Russell Investments Group Ltd. boosted its position in World Kinect by 5.6% during the 4th quarter. Russell Investments Group Ltd. now owns 54,743 shares of the company's stock worth $1,506,000 after acquiring an additional 2,923 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in shares of World Kinect in the fourth quarter worth $2,978,000. 97.06% of the stock is currently owned by institutional investors.

Insider Transactions at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the sale, the chief executive officer now directly 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 available at the SEC website. Corporate insiders own 2.90% of the company's stock.

Remove Ads

Analyst Ratings Changes

Separately, Stifel Nicolaus cut 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.

World Kinect Price Performance

Shares of NYSE WKC traded down $0.23 during mid-day trading on Tuesday, reaching $23.78. 397,185 shares of the company traded hands, compared to its average volume of 745,132. The firm has a market cap of $1.35 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19. 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 Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.71. The stock has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $28.22.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $9.76 billion for the quarter, compared to analysts' expectations of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. Equities research analysts anticipate that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Monday, March 31st. World Kinect's payout ratio is 64.15%.

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.