Nordea Investment Management AB Has $4.10 Million Stock Position in World Kinect Corporation $WKC

Nordea Investment Management AB grew its position in World Kinect Corporation (NYSE:WKC) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 145,513 shares of the company’s stock after buying an additional 2,180 shares during the period. Nordea Investment Management AB’s holdings in World Kinect were worth $4,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WKC. Highland Capital Management LLC increased its stake in shares of World Kinect by 25.4% in the 1st quarter. Highland Capital Management LLC now owns 10,945 shares of the company’s stock valued at $310,000 after buying an additional 2,217 shares during the period. Teacher Retirement System of Texas increased its stake in shares of World Kinect by 94.5% in the 1st quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock valued at $946,000 after buying an additional 16,211 shares during the period. Eukles Asset Management increased its stake in shares of World Kinect by 17.6% in the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock valued at $221,000 after buying an additional 1,165 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of World Kinect by 0.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock valued at $1,799,000 after buying an additional 509 shares during the period. Finally, Edgestream Partners L.P. increased its stake in shares of World Kinect by 2,373.0% in the 1st quarter. Edgestream Partners L.P. now owns 189,405 shares of the company’s stock valued at $5,372,000 after buying an additional 181,746 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Stock Performance

WKC stock opened at $25.50 on Wednesday. The business’s 50-day moving average price is $26.01 and its two-hundred day moving average price is $26.57. 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 firm has a market cap of $1.42 billion, a PE ratio of -3.34, a P/E/G ratio of 1.16 and a beta of 1.31. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.64.

World Kinect (NYSE:WKC) last posted its earnings results 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. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. As a group, research analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.1%. World Kinect’s payout ratio is currently -10.48%.

Analysts Set New Price Targets

WKC has been the subject of several research reports. Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price objective (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Morgan Stanley decreased their price objective on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of World Kinect in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.75.

About World Kinect

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.