Entropy Technologies LP Takes $310,000 Position in World Kinect Corporation (NYSE:WKC)

Key Points

• Entropy Technologies LP has made a new investment in World Kinect Corporation, purchasing 10,924 shares valued at approximately $310,000 in the first quarter.
• World Kinect's stock recently traded down by 1.5%, hitting $25.33, while having a market capitalization of $1.41 billion and a projected P/E ratio of -3.32.
• The company has increased its quarterly dividend from $0.17 to $0.20 per share, reflecting a 3.2% yield for its shareholders.

Entropy Technologies LP purchased 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 purchased 10,924 shares of the company's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WKC. Millennium Management LLC grew its holdings in shares of World Kinect by 639.9% in the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock valued at $14,001,000 after buying an additional 440,168 shares during the period. Two Sigma Investments LP grew its holdings in shares of World Kinect by 311.1% in the 4th quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock valued at $7,176,000 after buying an additional 384,413 shares during the period. LSV Asset Management grew its holdings in shares of World Kinect by 29.0% in the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company's stock valued at $43,959,000 after buying an additional 348,214 shares during the period. Ameriprise Financial Inc. lifted its position in World Kinect by 118.7% in the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock valued at $17,378,000 after acquiring an additional 342,823 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in World Kinect by 24.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company's stock valued at $30,804,000 after acquiring an additional 216,903 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company's stock.

World Kinect Stock Down 1.5%

NYSE:WKC traded down $0.39 on Friday, hitting $25.33. 660,589 shares of the company's stock were exchanged, compared to its average volume of 631,780. The firm has a 50-day moving average price of $27.75 and a 200-day moving average price of $27.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. World Kinect Corporation has a 52 week low of $22.70 and a 52 week high of $31.70. The company has a market cap of $1.41 billion, a P/E ratio of -3.32, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39.

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

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were given a dividend of $0.20 per share. This is a boost from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.80 annualized dividend and a yield of 3.2%. World Kinect's payout ratio is presently -10.48%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WKC. Bank of America cut their price objective 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 price objective (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Finally, Morgan Stanley cut their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, World Kinect currently has an average rating of "Hold" and a consensus price target of $29.40.

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.