Algert Global LLC Makes New Investment in World Kinect Corporation $WKC

Key Points

• Algert Global LLC acquired 62,768 shares of World Kinect Corporation, valued at approximately $1.78 million, as part of their first-quarter investment strategy.
• Institutional investors now own about 97.06% of World Kinect's stock, indicating significant institutional interest in the company's equity.
• World Kinect recently announced an increase in its quarterly dividend from $0.17 to $0.20, providing a yield of 3.1% for shareholders.

Algert Global LLC bought a new stake in World Kinect Corporation (NYSE:WKC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 62,768 shares of the company's stock, valued at approximately $1,780,000. Algert Global LLC owned approximately 0.11% of World Kinect as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Cetera Investment Advisers grew its stake in shares of World Kinect by 5.1% in the first quarter. Cetera Investment Advisers now owns 9,250 shares of the company's stock valued at $262,000 after buying an additional 451 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of World Kinect by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company's stock valued at $881,000 after buying an additional 509 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of World Kinect by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company's stock valued at $1,799,000 after buying an additional 509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of World Kinect by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company's stock valued at $893,000 after buying an additional 707 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in shares of World Kinect by 4.4% in the fourth quarter. Vident Advisory LLC now owns 17,831 shares of the company's stock valued at $491,000 after buying an additional 748 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company's stock.

World Kinect Stock Up 1.7%

NYSE WKC traded up $0.46 during mid-day trading on Wednesday, reaching $27.11. 366,297 shares of the company's stock traded hands, compared to its average volume of 649,832. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $27.44 and a 200-day simple moving average of $27.22. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -3.55, a P/E/G ratio of 1.21 and a beta of 1.39.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities research analysts expect that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. This is a boost from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio (DPR) is -10.48%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Morgan Stanley lowered their price objective on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, World Kinect has an average rating of "Reduce" and a consensus price target of $29.40.

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.