Verity Asset Management Inc. Buys New Position in World Kinect Co. (NYSE:WKC)

Verity Asset Management Inc. bought a new stake in shares of World Kinect Co. (NYSE:WKC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,662 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC acquired a new position in shares of World Kinect in the fourth quarter valued at about $25,000. EMC Capital Management increased its holdings in shares of World Kinect by 4,038.5% in the fourth quarter. EMC Capital Management now owns 8,277 shares of the company’s stock valued at $228,000 after purchasing an additional 8,077 shares during the period. Highland Capital Management LLC increased its holdings in shares of World Kinect by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after purchasing an additional 547 shares during the period. KBC Group NV increased its holdings in shares of World Kinect by 60.2% in the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock valued at $99,000 after purchasing an additional 1,351 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in shares of World Kinect by 5.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 36,625 shares of the company’s stock valued at $1,008,000 after purchasing an additional 1,924 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and cut their price objective for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.20.

World Kinect Stock Performance

Shares of NYSE WKC opened at $28.23 on Wednesday. The company’s fifty day moving average price is $28.05 and its 200 day moving average price is $28.38. World Kinect Co. has a 1 year low of $21.38 and a 1 year high of $31.70. The company has a market capitalization of $1.64 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

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.