Algert Global LLC Has $4.28 Million Stock Position in World Kinect Co. (NYSE:WKC)

Algert Global LLC grew its stake in World Kinect Co. (NYSE:WKC) by 88.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,560 shares of the company’s stock after purchasing an additional 64,867 shares during the period. Algert Global LLC owned approximately 0.24% of World Kinect worth $4,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can raised its stake in World Kinect by 6.7% during the second quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock worth $13,697,000 after acquiring an additional 33,332 shares in the last quarter. Boston Partners increased its position in shares of World Kinect by 12.4% during the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after purchasing an additional 149,433 shares in the last quarter. Caxton Associates LP lifted its holdings in World Kinect by 77.5% during the 1st quarter. Caxton Associates LP now owns 44,599 shares of the company’s stock valued at $1,180,000 after purchasing an additional 19,467 shares during the last quarter. Renaissance Technologies LLC boosted its position in World Kinect by 76.6% in the second quarter. Renaissance Technologies LLC now owns 139,500 shares of the company’s stock valued at $3,599,000 after buying an additional 60,500 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of World Kinect by 4.4% during the third 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 in the last quarter. Institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

World Kinect stock opened at $28.72 on Monday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 12.76, a PEG ratio of 1.09 and a beta of 1.26. The business has a 50-day moving average of $29.35 and a 200-day moving average of $27.46. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 1 year low of $20.00 and a 1 year high of $31.70.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, hitting the consensus estimate of $0.62. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities analysts anticipate that World Kinect Co. will post 2.12 EPS for the current year.

World Kinect declared that its Board of Directors has initiated a stock buyback plan on Monday, September 9th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.37%. World Kinect’s dividend payout ratio (DPR) is currently 30.22%.

Analyst Upgrades and Downgrades

WKC has been the topic of a number of research analyst reports. Morgan Stanley lowered World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Monday, September 16th. Bank of America upped their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Stifel Nicolaus cut shares of World Kinect from a “buy” rating to a “hold” rating and lowered their price objective for the company from $33.00 to $32.00 in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, World Kinect currently has a consensus rating of “Hold” and a consensus target price 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.