Mitsubishi UFJ Trust & Banking Corp Acquires 38,888 Shares of World Kinect Corporation $WKC

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in World Kinect Corporation (NYSE:WKC) by 47.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,463 shares of the company’s stock after purchasing an additional 38,888 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.22% of World Kinect worth $3,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WKC. Royal Bank of Canada raised its position in shares of World Kinect by 2.2% in the first quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock valued at $1,934,000 after buying an additional 1,481 shares in the last quarter. AQR Capital Management LLC increased its stake in World Kinect by 16.5% during the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock worth $3,380,000 after acquiring an additional 16,874 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in World Kinect by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock valued at $963,000 after acquiring an additional 1,497 shares in the last quarter. Millennium Management LLC lifted its position in shares of World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock valued at $14,909,000 after acquiring an additional 16,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of World Kinect by 18.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock worth $6,262,000 after purchasing an additional 34,807 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WKC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th. Zacks Research raised shares of World Kinect from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $28.75.

World Kinect Stock Performance

NYSE:WKC opened at $26.95 on Friday. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.54. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $24.92 and its 200 day simple moving average is $25.65. The firm has a market capitalization of $1.50 billion, a PE ratio of -3.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13.

World Kinect Announces Dividend

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

World Kinect Company 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.