World Kinect Corporation $WKC Holdings Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in World Kinect Corporation (NYSE:WKC) by 27.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 161,323 shares of the company’s stock after purchasing an additional 34,499 shares during the quarter. Allianz Asset Management GmbH’s holdings in World Kinect were worth $4,186,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brandes Investment Partners LP boosted its holdings in shares of World Kinect by 0.5% in the second quarter. Brandes Investment Partners LP now owns 2,635,485 shares of the company’s stock worth $74,716,000 after buying an additional 13,262 shares during the period. LSV Asset Management raised its holdings in shares of World Kinect by 5.6% during the second quarter. LSV Asset Management now owns 1,637,239 shares of the company’s stock valued at $46,416,000 after acquiring an additional 87,197 shares during the period. Boston Partners lifted its position in shares of World Kinect by 1.4% in the 2nd quarter. Boston Partners now owns 1,492,314 shares of the company’s stock valued at $41,367,000 after acquiring an additional 20,046 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in World Kinect by 18.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 732,715 shares of the company’s stock worth $20,773,000 after purchasing an additional 111,525 shares during the period. Finally, American Century Companies Inc. grew its position in World Kinect by 45.0% during the 2nd quarter. American Century Companies Inc. now owns 635,541 shares of the company’s stock worth $18,018,000 after purchasing an additional 197,153 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Performance

WKC stock opened at $27.07 on Wednesday. The firm has a 50 day moving average of $25.45 and a two-hundred day moving average of $25.57. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.54. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -3.50, a P/E/G ratio of 1.25 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

World Kinect Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WKC shares. Weiss Ratings restated 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 note on Monday, January 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.75.

World Kinect Profile

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.