Public Employees Retirement System of Ohio Buys 11,640 Shares of World Kinect Co. (NYSE:WKC)

Public Employees Retirement System of Ohio raised its stake in World Kinect Co. (NYSE:WKC - Free Report) by 23.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,265 shares of the company's stock after buying an additional 11,640 shares during the quarter. Public Employees Retirement System of Ohio owned 0.11% of World Kinect worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of World Kinect by 30.6% during the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock worth $84,399,000 after purchasing an additional 719,631 shares during the period. Millennium Management LLC raised its position in shares of World Kinect by 639.9% during the fourth quarter. Millennium Management LLC now owns 508,959 shares of the company's stock worth $14,001,000 after purchasing an additional 440,168 shares during the period. EVR Research LP raised its position in shares of World Kinect by 163.0% during the fourth quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after purchasing an additional 440,000 shares during the period. Two Sigma Investments LP raised its position in shares of World Kinect by 311.1% during the fourth quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock worth $7,176,000 after purchasing an additional 384,413 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of World Kinect by 118.7% during the fourth quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock worth $17,378,000 after purchasing an additional 342,823 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America dropped their target price on 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 dropped their target price on 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 Stock Up 1.9%

WKC stock traded up $0.53 during mid-day trading on Friday, reaching $28.04. The company had a trading volume of 603,244 shares, compared to its average volume of 780,763. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock has a 50 day simple moving average of $25.90 and a two-hundred day simple moving average of $27.45. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 0.89 and a beta of 1.34. World Kinect Co. has a 52 week low of $22.71 and a 52 week high of $31.71.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $10.47 billion. During the same period last year, the company earned $0.47 earnings per share. The business's revenue was down 13.7% compared to the same quarter last year. As a group, equities analysts predict that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This is an increase from World Kinect's previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 2.85%. World Kinect's payout ratio is 283.33%.

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.