World Kinect Corporation $WKC Stake Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its stake in World Kinect Corporation (NYSE:WKC) by 27.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 161,323 shares of the company’s stock after buying an additional 34,499 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.29% of World Kinect worth $4,186,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Brandes Investment Partners LP lifted its position in World Kinect by 0.5% in the 2nd quarter. Brandes Investment Partners LP now owns 2,635,485 shares of the company’s stock valued at $74,716,000 after purchasing an additional 13,262 shares during the last quarter. LSV Asset Management increased its stake in shares of World Kinect by 5.6% in the second quarter. LSV Asset Management now owns 1,637,239 shares of the company’s stock valued at $46,416,000 after purchasing an additional 87,197 shares during the period. Boston Partners raised its holdings in shares of World Kinect by 1.4% during the second quarter. Boston Partners now owns 1,492,314 shares of the company’s stock valued at $41,367,000 after buying an additional 20,046 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of World Kinect by 18.0% during the second quarter. Ameriprise Financial Inc. now owns 732,715 shares of the company’s stock worth $20,773,000 after buying an additional 111,525 shares during the period. Finally, American Century Companies Inc. grew its holdings in World Kinect by 45.0% in the 2nd quarter. American Century Companies Inc. now owns 635,541 shares of the company’s stock worth $18,018,000 after buying an additional 197,153 shares in the last quarter. Institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

World Kinect Price Performance

NYSE:WKC opened at $27.07 on Wednesday. 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 business’s 50-day moving average price is $25.45 and its 200 day moving average price is $25.57. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.54. The firm has a market cap of $1.50 billion, a P/E ratio of -3.50, a PEG ratio of 1.25 and a beta of 1.13.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, December 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, December 15th. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

World Kinect Profile

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.