Acadian Asset Management LLC Invests $1.95 Million in World Kinect Corporation $WKC

Acadian Asset Management LLC purchased a new position in shares of World Kinect Corporation (NYSE:WKC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 68,755 shares of the company’s stock, valued at approximately $1,946,000. Acadian Asset Management LLC owned approximately 0.12% of World Kinect as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WKC. Caitong International Asset Management Co. Ltd bought a new position in shares of World Kinect during the first quarter worth $32,000. Quarry LP bought a new position in shares of World Kinect during the first quarter worth $38,000. PNC Financial Services Group Inc. boosted its position in shares of World Kinect by 86.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock worth $179,000 after purchasing an additional 2,925 shares in the last quarter. AlphaQuest LLC boosted its position in shares of World Kinect by 576.8% during the first quarter. AlphaQuest LLC now owns 6,680 shares of the company’s stock worth $189,000 after purchasing an additional 5,693 shares in the last quarter. Finally, Eukles Asset Management boosted its position in shares of World Kinect by 17.6% during the first quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock worth $221,000 after purchasing an additional 1,165 shares in the last quarter. 97.06% of the stock is owned by institutional investors.

World Kinect Trading Up 2.4%

WKC opened at $26.02 on Wednesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of -3.41, a P/E/G ratio of 1.15 and a beta of 1.38. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70. The firm’s fifty day simple moving average is $26.82 and its 200 day simple moving average is $26.98. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.11. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 30th. World Kinect’s payout ratio is presently -10.48%.

Analyst Upgrades and Downgrades

WKC has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $29.40.

World Kinect Company 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.