177,537 Shares in World Kinect Co. (NYSE:WKC) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in World Kinect Co. (NYSE:WKC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 177,537 shares of the company's stock, valued at approximately $4,884,000. Balyasny Asset Management L.P. owned about 0.31% of World Kinect as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WKC. Barclays PLC grew its stake in shares of World Kinect by 18.6% in the third quarter. Barclays PLC now owns 256,126 shares of the company's stock worth $7,918,000 after purchasing an additional 40,233 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in World Kinect during the third quarter valued at $31,000. Principal Financial Group Inc. boosted its position in World Kinect by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after acquiring an additional 56,952 shares during the last quarter. Nordea Investment Management AB boosted its position in World Kinect by 1.5% during the fourth quarter. Nordea Investment Management AB now owns 138,386 shares of the company's stock valued at $3,779,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in World Kinect during the fourth quarter valued at $2,055,000. Institutional investors own 97.06% of the company's stock.

World Kinect Stock Up 0.7%

Shares of NYSE WKC traded up $0.19 during trading on Friday, hitting $27.78. 117,754 shares of the company traded hands, compared to its average volume of 774,618. The business's fifty day moving average is $26.14 and its 200 day moving average is $27.44. World Kinect Co. has a fifty-two week low of $22.71 and a fifty-two week high of $31.71. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 0.89 and a beta of 1.34. 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 (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business's quarterly revenue was down 13.7% compared to the same quarter last year. Equities research analysts predict that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.45%. World Kinect's dividend payout ratio is currently 283.33%.

Insider Activity

In related news, CEO Michael J. Kasbar sold 21,507 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

WKC has been the topic of a number of research analyst reports. Bank of America cut their price target 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, April 25th. Stifel Nicolaus cut their price target on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st.

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.