Duality Advisers LP Acquires New Shares in World Kinect Co. (NYSE:WKC)

Duality Advisers LP acquired a new stake in World Kinect Co. (NYSE:WKC) in the 4th quarter, Holdings Channel reports. The firm acquired 34,941 shares of the company’s stock, valued at approximately $796,000.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new position in World Kinect in the 4th quarter valued at approximately $3,843,000. Nisa Investment Advisors LLC purchased a new position in World Kinect in the 4th quarter valued at approximately $1,421,000. New York State Teachers Retirement System purchased a new position in World Kinect in the 4th quarter valued at approximately $2,584,000. CX Institutional purchased a new position in World Kinect in the 4th quarter valued at approximately $3,594,000. Finally, Pinnacle Associates Ltd. purchased a new position in World Kinect in the 4th quarter valued at approximately $1,123,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $24.37, for a total transaction of $487,400.00. Following the completion of the sale, the director now owns 75,375 shares of the company’s stock, valued at $1,836,888.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

World Kinect Price Performance

WKC stock opened at $25.04 on Thursday. World Kinect Co. has a 52-week low of $17.69 and a 52-week high of $26.83. The stock’s fifty day simple moving average is $25.14 and its 200-day simple moving average is $22.82. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.26.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. Equities research analysts expect that World Kinect Co. will post 2.25 EPS for the current year.

World Kinect Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s payout ratio is 80.95%.

Wall Street Analysts Forecast Growth

WKC has been the subject of several research analyst reports. Bank of America raised their price objective on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Thursday, March 14th. Raymond James raised their price target on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. started coverage on World Kinect in a research report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.75.

About World Kinect

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.