EMC Capital Management Grows Position in World Kinect Co. (NYSE:WKC)

EMC Capital Management raised its position in World Kinect Co. (NYSE:WKC) by 4,038.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,277 shares of the company’s stock after purchasing an additional 8,077 shares during the quarter. EMC Capital Management’s holdings in World Kinect were worth $228,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Highland Capital Management LLC boosted its holdings in World Kinect by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after acquiring an additional 547 shares during the period. KBC Group NV grew 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 worth $99,000 after purchasing an additional 1,351 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in World Kinect by 5.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 36,625 shares of the company’s stock worth $1,008,000 after buying an additional 1,924 shares during the period. Inspire Investing LLC lifted its holdings in World Kinect by 10.0% during the 4th quarter. Inspire Investing LLC now owns 14,620 shares of the company’s stock valued at $402,000 after buying an additional 1,324 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in World Kinect in the 4th quarter valued at about $50,707,000. Institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of WKC opened at $28.58 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The company has a 50 day moving average price of $28.09 and a 200-day moving average price of $28.32. World Kinect Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.70. The stock has a market capitalization of $1.66 billion, a PE ratio of 12.70, a PEG ratio of 0.94 and a beta of 1.28.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 23rd. This represents a $0.68 annualized dividend and a yield of 2.38%. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus downgraded shares of World Kinect from a “buy” rating to a “hold” rating and decreased their price target for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.