World Fuel Services Corp (NYSE:INT) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC grew its position in World Fuel Services Corp (NYSE:INT) by 188.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,470 shares of the oil and gas company’s stock after acquiring an additional 38,178 shares during the period. Convergence Investment Partners LLC owned about 0.09% of World Fuel Services worth $2,103,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of World Fuel Services in the first quarter worth about $209,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of World Fuel Services during the first quarter worth about $216,000. Investors Research Corp purchased a new stake in shares of World Fuel Services during the first quarter worth about $233,000. TD Asset Management Inc. purchased a new stake in shares of World Fuel Services during the first quarter worth about $243,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of World Fuel Services during the first quarter worth about $256,000. Institutional investors and hedge funds own 91.34% of the company’s stock.

In related news, Director J Thomas Presby sold 13,078 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $29.23, for a total transaction of $382,269.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Alexander Lake sold 1,500 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.91, for a total transaction of $49,365.00. Following the sale, the executive vice president now directly owns 59,122 shares of the company’s stock, valued at approximately $1,945,705.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,078 shares of company stock valued at $714,685. 2.40% of the stock is owned by corporate insiders.

A number of analysts have recently commented on the stock. TheStreet raised shares of World Fuel Services from a “c+” rating to a “b-” rating in a research note on Tuesday, July 16th. Stifel Nicolaus boosted their target price on shares of World Fuel Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research raised shares of World Fuel Services from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Wednesday, July 3rd. Finally, ValuEngine cut shares of World Fuel Services from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.67.

NYSE INT traded down $1.03 during trading hours on Friday, hitting $37.20. 2,672 shares of the company’s stock traded hands, compared to its average volume of 490,703. World Fuel Services Corp has a 52-week low of $19.81 and a 52-week high of $39.92. The company has a market cap of $2.57 billion, a P/E ratio of 17.97, a PEG ratio of 3.33 and a beta of 1.20. The company has a quick ratio of 1.16, a current ratio of 1.35 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $35.87.

World Fuel Services (NYSE:INT) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. World Fuel Services had a net margin of 0.38% and a return on equity of 8.76%. The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the prior year, the company earned $0.47 EPS. World Fuel Services’s revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts predict that World Fuel Services Corp will post 2.36 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 10th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from World Fuel Services’s previous quarterly dividend of $0.06. World Fuel Services’s dividend payout ratio is currently 18.96%.

About World Fuel Services

World Fuel Services Corporation engages in the distribution of fuel, and related products and services in the aviation, marine, and land transportation industries worldwide. Its Aviation segment supplies fuel, and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets, the U.S.

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Institutional Ownership by Quarter for World Fuel Services (NYSE:INT)

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