Verity Asset Management Inc. Makes New Investment in World Kinect Co. (NYSE:WKC)

Verity Asset Management Inc. acquired a new position in World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,662 shares of the company's stock, valued at approximately $266,000.

Several other hedge funds have also modified their holdings of WKC. Geode Capital Management LLC grew its stake in World Kinect by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock valued at $42,358,000 after acquiring an additional 22,077 shares in the last quarter. Algert Global LLC increased its holdings in shares of World Kinect by 88.0% in the third quarter. Algert Global LLC now owns 138,560 shares of the company's stock valued at $4,283,000 after purchasing an additional 64,867 shares during the last quarter. Quantbot Technologies LP lifted its position in World Kinect by 244.6% during the third quarter. Quantbot Technologies LP now owns 86,746 shares of the company's stock worth $2,681,000 after buying an additional 61,572 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in World Kinect during the fourth quarter worth $50,707,000. Finally, Principal Financial Group Inc. grew its holdings in World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after buying an additional 56,952 shares in the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Stock Performance

Shares of NYSE:WKC traded down $0.24 during trading on Friday, reaching $28.22. The company had a trading volume of 385,767 shares, compared to its average volume of 521,522. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock's fifty day moving average price is $28.01 and its 200 day moving average price is $28.39. World Kinect Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.70. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.41%. World Kinect's payout ratio is currently 30.22%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut shares of World Kinect from a "buy" rating to a "hold" rating and dropped their price target for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.20.

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.