Teacher Retirement System of Texas Increases Position in World Kinect Corporation (NYSE:WKC)

Teacher Retirement System of Texas boosted its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 94.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,372 shares of the company's stock after buying an additional 16,211 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of World Kinect worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in World Kinect during the fourth quarter worth about $48,000. New Age Alpha Advisors LLC acquired a new position in World Kinect during the fourth quarter worth about $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 worth $209,000 after buying an additional 1,104 shares during the period. Quantinno Capital Management LP acquired a new position in World Kinect during the fourth quarter worth about $224,000. Finally, Cetera Investment Advisers purchased a new stake in shares of World Kinect in the fourth quarter valued at about $242,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Price Performance

Shares of NYSE WKC traded down $0.15 on Friday, hitting $28.21. The company's stock had a trading volume of 150,299 shares, compared to its average volume of 717,456. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 117.46, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 1.00. The stock has a 50 day moving average of $28.09 and a 200-day moving average of $27.52.

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

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were paid a dividend of $0.20 per share. This is an increase from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. World Kinect's dividend payout ratio is presently 333.33%.

Wall Street Analyst Weigh In

Separately, Bank of America reduced their price target on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report 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.