Edgestream Partners L.P. Has $5.37 Million Stock Holdings in World Kinect Corporation (NYSE:WKC)

Edgestream Partners L.P. raised its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 2,373.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,405 shares of the company's stock after buying an additional 181,746 shares during the quarter. Edgestream Partners L.P. owned about 0.33% of World Kinect worth $5,372,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WKC. Headlands Technologies LLC acquired a new position in shares of World Kinect in the fourth quarter valued at $48,000. New Age Alpha Advisors LLC acquired a new position in shares of World Kinect in the fourth quarter valued at $98,000. EP Wealth Advisors LLC grew its position in World Kinect by 17.0% in the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock valued at $209,000 after acquiring an additional 1,104 shares during the period. Eukles Asset Management grew its position in World Kinect by 17.6% in the first quarter. Eukles Asset Management now owns 7,800 shares of the company's stock valued at $221,000 after acquiring an additional 1,165 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in World Kinect in the fourth quarter valued at $224,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Trading Down 0.8%

Shares of WKC traded down $0.22 during trading hours on Thursday, hitting $28.37. 809,055 shares of the stock traded hands, compared to its average volume of 782,079. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. World Kinect Corporation has a 1-year low of $22.71 and a 1-year high of $31.71. The firm has a market capitalization of $1.61 billion, a PE ratio of 118.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The business has a fifty day moving average of $28.06 and a 200-day moving average of $27.51.

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

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.82%. This is an increase from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. World Kinect's dividend payout ratio (DPR) is currently 333.33%.

Wall Street Analyst Weigh In

Separately, Bank of America lowered their price target 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.

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.