State of Alaska Department of Revenue Buys 52,284 Shares of World Kinect Co. (NYSE:WKC)

State of Alaska Department of Revenue raised its holdings in shares of World Kinect Co. (NYSE:WKC - Free Report) by 155.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,007 shares of the company's stock after acquiring an additional 52,284 shares during the quarter. State of Alaska Department of Revenue owned about 0.15% of World Kinect worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of World Kinect by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company's stock worth $781,000 after buying an additional 1,570 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of World Kinect in the second quarter worth $528,000. Exchange Traded Concepts LLC purchased a new stake in shares of World Kinect in the third quarter worth $1,073,000. Everence Capital Management Inc. purchased a new stake in shares of World Kinect in the third quarter worth $210,000. Finally, Highland Capital Management LLC purchased a new stake in shares of World Kinect in the third quarter worth $253,000. Institutional investors own 97.06% of the company's stock.

Analyst Upgrades and Downgrades

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

World Kinect Price Performance

NYSE WKC traded down $0.86 during trading hours on Friday, reaching $27.32. 618,089 shares of the stock traded hands, compared to its average volume of 516,173. The stock has a 50 day simple moving average of $27.92 and a two-hundred day simple moving average of $28.43. World Kinect Co. has a 1 year low of $21.38 and a 1 year high of $31.70. 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 company has a market cap of $1.59 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.49%. World Kinect's dividend payout ratio (DPR) is currently 30.22%.

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.