EVR Research LP increased its holdings in shares of World Kinect Co. (NYSE:WKC - Free Report) by 163.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 710,000 shares of the company's stock after acquiring an additional 440,000 shares during the quarter. World Kinect makes up about 6.5% of EVR Research LP's holdings, making the stock its 2nd largest position. EVR Research LP owned about 1.22% of World Kinect worth $19,532,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Invesco Ltd. increased its position in World Kinect by 30.6% in the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock worth $84,399,000 after buying an additional 719,631 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in World Kinect in the 4th quarter valued at about $50,707,000. Boston Partners lifted its holdings in World Kinect by 4.4% during the fourth quarter. Boston Partners now owns 1,492,026 shares of the company's stock valued at $41,226,000 after purchasing an additional 63,234 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock worth $42,358,000 after purchasing an additional 22,077 shares in the last quarter. Finally, Principal Financial Group Inc. boosted 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 worth $41,465,000 after buying an additional 56,952 shares during the period. Hedge funds and other institutional investors own 97.06% of the company's stock.
Insider Activity
In other news, CEO Michael J. Kasbar sold 21,507 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.90% of the company's stock.
World Kinect Price Performance
Shares of NYSE:WKC traded down $0.29 on Wednesday, hitting $23.54. The company's stock had a trading volume of 521,961 shares, compared to its average volume of 766,154. 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 capitalization of $1.34 billion, a PE ratio of 22.21, a PEG ratio of 0.89 and a beta of 1.19. The company has a 50-day simple moving average of $27.59 and a 200 day simple moving average of $28.19.
World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. Sell-side analysts forecast that World Kinect Co. will post 2.56 EPS for the current fiscal year.
World Kinect Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders 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 dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, March 31st. World Kinect's payout ratio is currently 64.15%.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus reduced their price target on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, February 21st.
Read Our Latest Report on WKC
About World Kinect
(
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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