Balyasny Asset Management L.P. Takes Position in World Kinect Co. (NYSE:WKC)

Balyasny Asset Management L.P. bought a new position in World Kinect Co. (NYSE:WKC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 177,537 shares of the company's stock, valued at approximately $4,884,000. Balyasny Asset Management L.P. owned approximately 0.31% of World Kinect at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WKC. Invesco Ltd. lifted its position in shares of 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 during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect during the fourth quarter valued at $50,707,000. Boston Partners boosted its position in shares of World Kinect by 4.4% in the 4th 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 period. Principal Financial Group Inc. increased its stake in World Kinect by 4.4% in the 3rd 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 raised its holdings in World Kinect by 163.0% during the 4th quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after buying an additional 440,000 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Price Performance

NYSE WKC opened at $26.80 on Friday. The company has a 50 day simple moving average of $26.21 and a 200-day simple moving average of $27.45. World Kinect Co. has a 52-week low of $22.71 and a 52-week high of $31.71. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $10.47 billion. During the same quarter last year, the business posted $0.47 EPS. The company's revenue for the quarter was down 13.7% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, March 31st. World Kinect's payout ratio is currently 283.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WKC. Bank of America dropped their target price 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 lowered their price objective 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.

Insider Activity

In other news, CEO Michael J. Kasbar sold 21,507 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction 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 trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by corporate insiders.

About World Kinect

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.