EMC Capital Management Increases Stock Position in World Kinect Co. (NYSE:WKC)

EMC Capital Management grew its position in World Kinect Co. (NYSE:WKC) by 4,038.5% in the fourth quarter, HoldingsChannel reports. The fund owned 8,277 shares of the company’s stock after acquiring an additional 8,077 shares during the quarter. EMC Capital Management’s holdings in World Kinect were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Highland Capital Management LLC grew its holdings in World Kinect by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after purchasing an additional 547 shares during the period. KBC Group NV grew its stake in World Kinect by 60.2% in the 4th quarter. KBC Group NV now owns 3,597 shares of the company’s stock valued at $99,000 after acquiring an additional 1,351 shares during the period. Exchange Traded Concepts LLC increased its holdings in World Kinect by 5.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 36,625 shares of the company’s stock worth $1,008,000 after acquiring an additional 1,924 shares in the last quarter. Inspire Investing LLC raised its position in World Kinect by 10.0% during the fourth quarter. Inspire Investing LLC now owns 14,620 shares of the company’s stock worth $402,000 after acquiring an additional 1,324 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of World Kinect in the fourth quarter valued at about $50,707,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.20.

World Kinect Stock Performance

Shares of World Kinect stock opened at $28.58 on Friday. The firm has a market cap of $1.66 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.70. The business’s fifty day simple moving average is $28.09 and its 200-day simple moving average is $28.32.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 annualized dividend and a yield of 2.38%. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

World Kinect 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.