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

Algert Global LLC increased its holdings in shares of World Kinect Co. (NYSE:WKC) by 88.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,560 shares of the company’s stock after acquiring an additional 64,867 shares during the quarter. Algert Global LLC’s holdings in World Kinect were worth $4,283,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its position 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 purchasing an additional 33,332 shares during the period. Boston Partners boosted its holdings 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 buying an additional 149,433 shares during the period. Caxton Associates LP grew its stake in World Kinect by 77.5% in the 1st quarter. Caxton Associates LP now owns 44,599 shares of the company’s stock valued at $1,180,000 after buying an additional 19,467 shares during the last quarter. Renaissance Technologies LLC raised its holdings in World Kinect by 76.6% in the 2nd quarter. Renaissance Technologies LLC now owns 139,500 shares of the company’s stock valued at $3,599,000 after acquiring an additional 60,500 shares during the period. Finally, Principal Financial Group Inc. lifted its position in 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 acquiring an additional 56,952 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of NYSE WKC opened at $28.72 on Monday. The stock has a market capitalization of $1.67 billion, a PE ratio of 12.76, a P/E/G ratio of 1.09 and a beta of 1.26. World Kinect Co. has a fifty-two week low of $20.00 and a fifty-two week 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 business has a fifty day moving average price of $29.35 and a two-hundred day moving average price of $27.46.

World Kinect (NYSE:WKC) last posted its quarterly earnings data 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 business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the business posted $0.58 earnings per share. World Kinect’s revenue was down 14.3% compared to the same quarter last year. As a group, equities analysts predict that World Kinect Co. will post 2.12 earnings per share for the current fiscal year.

World Kinect announced that its Board of Directors has authorized a share buyback plan on Monday, September 9th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 11% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

World Kinect Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Stifel Nicolaus downgraded World Kinect from a “buy” rating to a “hold” rating and decreased their target price for the company from $33.00 to $32.00 in a research report on Friday, October 25th. Morgan Stanley lowered World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Bank of America upped their price target on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, World Kinect has an average rating of “Hold” and an average price target of $30.20.

World Kinect 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.