Legato Capital Management LLC Has $1.70 Million Holdings in World Kinect Co. (NYSE:WKC)

Legato Capital Management LLC increased its stake in World Kinect Co. (NYSE:WKC) by 51.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,888 shares of the company’s stock after purchasing an additional 21,111 shares during the period. Legato Capital Management LLC owned approximately 0.11% of World Kinect worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in World Kinect by 1.6% in the 3rd 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 during the period. Algert Global LLC boosted its stake in World Kinect by 88.0% in the 3rd quarter. Algert Global LLC now owns 138,560 shares of the company’s stock worth $4,283,000 after purchasing an additional 64,867 shares during the period. Quantbot Technologies LP boosted its stake in World Kinect by 244.6% in the 3rd quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock worth $2,681,000 after purchasing an additional 61,572 shares during the period. Hennessy Advisors Inc. acquired a new position in World Kinect in the 4th quarter worth $50,707,000. Finally, Principal Financial Group Inc. boosted its stake in shares of World Kinect by 4.4% during 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 last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus downgraded shares of World Kinect from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $32.00 in a research note on Friday, October 25th. Two investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.20.

World Kinect Stock Up 0.4 %

World Kinect stock opened at $28.36 on Wednesday. The stock has a market cap of $1.65 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.92 and a beta of 1.27. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. World Kinect Co. has a twelve month low of $21.38 and a twelve month high of $31.70. The company’s 50-day moving average price is $27.99 and its two-hundred day moving average price is $28.43.

World Kinect Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were issued 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 2.40%. World Kinect’s dividend payout ratio is presently 30.22%.

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.