LSV Asset Management Buys 103,489 Shares of World Kinect Corporation $WKC

LSV Asset Management lifted its stake in shares of World Kinect Corporation (NYSE:WKC) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,740,728 shares of the company’s stock after acquiring an additional 103,489 shares during the quarter. LSV Asset Management owned about 3.13% of World Kinect worth $45,172,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Johnson Investment Counsel Inc. lifted its holdings in World Kinect by 0.5% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 110,836 shares of the company’s stock worth $2,876,000 after purchasing an additional 502 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in World Kinect by 14.5% during the second quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock valued at $113,000 after purchasing an additional 503 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of World Kinect by 4.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,538 shares of the company’s stock valued at $412,000 after purchasing an additional 640 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of World Kinect by 188.4% in the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after buying an additional 652 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of World Kinect by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 54,354 shares of the company’s stock worth $1,541,000 after buying an additional 775 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on WKC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. Zacks Research raised World Kinect from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $28.75.

World Kinect Price Performance

NYSE:WKC opened at $26.77 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.99. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.54. The company has a fifty day moving average price of $25.62 and a 200 day moving average price of $25.57. The stock has a market cap of $1.49 billion, a P/E ratio of -3.46, a PEG ratio of 1.19 and a beta of 1.13.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, December 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. World Kinect’s dividend payout ratio (DPR) is -10.34%.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.