World Kinect Corporation (NYSE:WKC - Get Free Report) announced a quarterly dividend on Tuesday, September 16th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.20 per share on Thursday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 30th.
World Kinect has a payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect World Kinect to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.0%.
World Kinect Price Performance
WKC stock traded down $0.50 during trading on Friday, hitting $26.42. 3,736,732 shares of the stock traded hands, compared to its average volume of 798,312. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -3.46, a P/E/G ratio of 1.20 and a beta of 1.38. World Kinect has a one year low of $22.70 and a one year high of $31.70. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $26.66 and a 200 day simple moving average of $26.93.
World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.11. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The firm had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. Equities analysts expect that World Kinect will post 2.56 EPS for the current fiscal year.
Hedge Funds Weigh In On World Kinect
Several large investors have recently made changes to their positions in WKC. Millennium Management LLC boosted its stake in World Kinect by 639.9% in the fourth quarter. Millennium Management LLC now owns 508,959 shares of the company's stock valued at $14,001,000 after acquiring an additional 440,168 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of World Kinect by 263.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 573,716 shares of the company's stock valued at $16,271,000 after purchasing an additional 415,837 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of World Kinect in the 2nd quarter valued at $11,250,000. Two Sigma Investments LP boosted its position in shares of World Kinect by 311.1% in the 4th 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. Finally, LSV Asset Management grew its stake in shares of World Kinect by 29.0% during the first quarter. LSV Asset Management now owns 1,550,042 shares of the company's stock worth $43,959,000 after purchasing an additional 348,214 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.
About World Kinect
(
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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.
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