Syon Capital LLC Takes $273,000 Position in World Kinect Co. (NYSE:WKC)

Syon Capital LLC acquired a new stake in shares of World Kinect Co. (NYSE:WKC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,923 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its position in World Kinect by 30.6% during the 4th quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock valued at $84,399,000 after acquiring an additional 719,631 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect during the 4th quarter worth $50,707,000. Boston Partners grew its stake in World Kinect by 4.4% in the fourth quarter. Boston Partners now owns 1,492,026 shares of the company’s stock valued at $41,226,000 after purchasing an additional 63,234 shares during the last quarter. Principal Financial Group Inc. raised its holdings in World Kinect by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after purchasing an additional 56,952 shares in the last quarter. Finally, EVR Research LP lifted its position in shares of World Kinect by 163.0% during the fourth quarter. EVR Research LP now owns 710,000 shares of the company’s stock valued at $19,532,000 after buying an additional 440,000 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WKC. Bank of America cut their price objective on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research report on Friday. Stifel Nicolaus reduced their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st.

Insider Transactions at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

World Kinect Stock Performance

Shares of World Kinect stock opened at $24.16 on Friday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 22.79, a PEG ratio of 0.89 and a beta of 1.19. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $26.94 and a 200 day moving average price of $27.82.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. During the same period in the previous year, the company earned $0.47 earnings per share. Sell-side analysts expect that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Monday, March 31st. World Kinect’s dividend payout ratio is presently 64.15%.

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.