Nordea Investment Management AB Acquires New Shares in World Kinect Co. (NYSE:WKC)

Nordea Investment Management AB bought a new stake in World Kinect Co. (NYSE:WKC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 169,376 shares of the company's stock, valued at approximately $3,843,000. Nordea Investment Management AB owned approximately 0.28% of World Kinect as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new stake in shares of World Kinect during the fourth quarter valued at approximately $777,000. Vanguard Group Inc. purchased a new stake in shares of World Kinect during the third quarter valued at approximately $157,793,000. Toroso Investments LLC increased its position in shares of World Kinect by 5.5% during the first quarter. Toroso Investments LLC now owns 15,423 shares of the company's stock valued at $394,000 after acquiring an additional 810 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of World Kinect by 50.3% during the first quarter. JPMorgan Chase & Co. now owns 458,416 shares of the company's stock valued at $11,713,000 after acquiring an additional 153,332 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of World Kinect during the first quarter valued at approximately $3,033,000. Institutional investors own 97.06% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on WKC shares. Bank of America increased their price target on World Kinect from $23.00 to $26.00 and gave the company an "underperform" rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. initiated coverage on World Kinect in a research report on Wednesday, February 21st. They issued a "neutral" rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.25.

Insider Activity

In other news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the completion of the transaction, the director now directly owns 75,375 shares in the company, valued at $1,836,888.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

World Kinect Stock Performance

NYSE:WKC traded down $0.17 during trading hours on Friday, reaching $26.02. The stock had a trading volume of 384,920 shares, compared to its average volume of 744,647. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.11. The stock has a 50 day simple moving average of $23.77 and a 200 day simple moving average of $22.31. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $26.52. The stock has a market cap of $1.56 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 2.32 and a beta of 1.25.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.23 billion. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. During the same period last year, the business posted $0.54 earnings per share. On average, research analysts forecast that World Kinect Co. will post 2.24 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This is a boost from World Kinect's previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 2.61%. World Kinect's payout ratio is 66.67%.

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.