Mitsubishi UFJ Trust & Banking Corp Purchases 38,888 Shares of World Kinect Corporation $WKC

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of World Kinect Corporation (NYSE:WKC) by 47.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,463 shares of the company’s stock after purchasing an additional 38,888 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in World Kinect were worth $3,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in World Kinect by 42.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 156,011 shares of the company’s stock valued at $4,048,000 after buying an additional 46,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in World Kinect by 11.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,160 shares of the company’s stock worth $210,000 after acquiring an additional 867 shares during the last quarter. Versant Capital Management Inc increased its position in World Kinect by 369.3% in the 3rd quarter. Versant Capital Management Inc now owns 2,112 shares of the company’s stock valued at $55,000 after acquiring an additional 1,662 shares during the period. Nordea Investment Management AB raised its stake in shares of World Kinect by 1.0% during the third quarter. Nordea Investment Management AB now owns 146,963 shares of the company’s stock valued at $3,774,000 after acquiring an additional 1,450 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its holdings in shares of World Kinect by 9.2% during the third quarter. Moran Wealth Management LLC now owns 77,291 shares of the company’s stock worth $2,006,000 after purchasing an additional 6,513 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

WKC has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. Zacks Research upgraded World Kinect from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $28.75.

World Kinect Price Performance

WKC stock opened at $26.95 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -3.48, a PEG ratio of 1.21 and a beta of 1.13. The company’s fifty day simple moving average is $24.92 and its 200 day simple moving average is $25.65. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.54.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Monday, December 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, December 15th. World Kinect’s payout ratio is currently -10.34%.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.