CWA Asset Management Group LLC Invests $490,000 in World Kinect Corporation (NYSE:WKC)

CWA Asset Management Group LLC acquired a new stake in World Kinect Corporation (NYSE:WKC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,271 shares of the company's stock, valued at approximately $490,000.

A number of other hedge funds have also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in World Kinect in the 4th quarter worth approximately $48,000. Centricity Wealth Management LLC acquired a new position in shares of World Kinect in the 4th quarter valued at $74,000. New Age Alpha Advisors LLC purchased a new stake in World Kinect during the fourth quarter worth $98,000. EP Wealth Advisors LLC grew its position in World Kinect by 17.0% during the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock valued at $209,000 after buying an additional 1,104 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in World Kinect in the fourth quarter valued at $224,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Price Performance

Shares of WKC stock traded up $0.06 during trading hours on Tuesday, hitting $27.46. 725,982 shares of the company's stock were exchanged, compared to its average volume of 776,212. World Kinect Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $31.71. The firm has a market cap of $1.56 billion, a P/E ratio of 114.41, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $26.62 and a two-hundred day moving average of $27.38.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a net margin of 0.05% and a return on equity of 6.46%. The firm's revenue was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. Sell-side analysts forecast that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, June 17th. This is an increase from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio is 333.33%.

Analysts Set New Price Targets

Separately, Bank of America lowered 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 note on Friday, April 25th.

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.