UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 42,487 Shares of World Kinect Co. (NYSE:WKC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,984 shares of the company's stock after buying an additional 42,487 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.32% of World Kinect worth $5,116,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vident Advisory LLC increased its stake in 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 acquiring an additional 748 shares during the last quarter. Two Sigma Investments LP lifted its stake in 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 last quarter. Rafferty Asset Management LLC boosted its holdings in shares of World Kinect by 80.6% in the 4th quarter. Rafferty Asset Management LLC now owns 88,883 shares of the company's stock worth $2,445,000 after purchasing an additional 39,677 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of World Kinect during the 4th quarter valued at about $224,000. Finally, Millennium Management LLC increased its position in shares of World Kinect by 639.9% during the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock valued at $14,001,000 after purchasing an additional 440,168 shares during the last quarter. 97.06% of the stock is owned by institutional investors.

World Kinect Trading Up 1.9%

World Kinect stock traded up $0.53 during mid-day trading on Friday, hitting $28.04. The company's stock 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 market cap of $1.59 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. The business has a 50 day moving average price of $25.90 and a 200-day moving average price of $27.45. World Kinect Co. has a 12 month low of $22.71 and a 12 month 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, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm's revenue for the quarter was down 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, analysts forecast that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders 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 currently 283.33%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WKC. Bank of America dropped their target price on World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Stifel Nicolaus lowered their price objective on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st.

World Kinect Company 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.