Legato Capital Management LLC Acquires 21,111 Shares of World Kinect Co. (NYSE:WKC)

Legato Capital Management LLC lifted its holdings in shares of World Kinect Co. (NYSE:WKC) by 51.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,888 shares of the company’s stock after purchasing an additional 21,111 shares during the quarter. Legato Capital Management LLC’s holdings in World Kinect were worth $1,703,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after acquiring an additional 22,077 shares during the last quarter. Algert Global LLC increased its stake in World Kinect by 88.0% in the third quarter. Algert Global LLC now owns 138,560 shares of the company’s stock valued at $4,283,000 after acquiring an additional 64,867 shares during the last quarter. Quantbot Technologies LP increased its stake in World Kinect by 244.6% in the third quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock valued at $2,681,000 after acquiring an additional 61,572 shares during the last quarter. Hennessy Advisors Inc. bought a new position in World Kinect in the fourth quarter valued at approximately $50,707,000. Finally, Principal Financial Group Inc. increased its stake in World Kinect by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock valued at $41,465,000 after acquiring an additional 56,952 shares during the last quarter. 97.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus cut shares of World Kinect from a “buy” rating to a “hold” rating and decreased their price objective for the company from $33.00 to $32.00 in a research note 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.20.

World Kinect Stock Performance

Shares of World Kinect stock opened at $28.36 on Wednesday. World Kinect Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The firm has a market capitalization of $1.65 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.92 and a beta of 1.27. The company’s 50 day moving average price is $27.99 and its two-hundred day moving average price is $28.43.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, December 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.40%. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

World Kinect Company 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.