Balyasny Asset Management L.P. Makes New $4.88 Million Investment in World Kinect Co. (NYSE:WKC)

Balyasny Asset Management L.P. acquired a new stake in World Kinect Co. (NYSE:WKC) in the 4th quarter, Holdings Channel reports. The firm acquired 177,537 shares of the company’s stock, valued at approximately $4,884,000.

Several other hedge funds and other institutional investors have also modified their holdings of WKC. Hennessy Advisors Inc. bought a new stake in shares of World Kinect in the 4th quarter worth approximately $50,707,000. Invesco Ltd. lifted its position in World Kinect by 30.6% in the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock worth $84,399,000 after purchasing an additional 719,631 shares during the period. EVR Research LP boosted its stake in World Kinect by 163.0% during the fourth quarter. EVR Research LP now owns 710,000 shares of the company’s stock worth $19,532,000 after buying an additional 440,000 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in World Kinect by 118.7% in the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company’s stock valued at $17,378,000 after buying an additional 342,823 shares during the period. Finally, Great Lakes Advisors LLC acquired a new position in shares of World Kinect in the 4th quarter valued at $9,182,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

NYSE:WKC opened at $26.80 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company’s 50-day moving average price is $26.21 and its two-hundred day moving average price is $27.45. 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 12 month low of $22.71 and a 12 month high of $31.71.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same period in the prior year, the company earned $0.47 EPS. World Kinect’s revenue for the quarter was down 13.7% on a year-over-year basis. On average, equities analysts anticipate that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect’s dividend payout ratio is currently 283.33%.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 21,507 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WKC. Bank of America decreased their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research report on Friday, April 25th. Stifel Nicolaus cut their target price on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st.

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.