Industry News

Bank of Montreal Can Has $26.10 Million Holdings in World Fuel Services Corp (NYSE:INT)

By September 13, 2019 No Comments

Bank of Montreal Can grew its position in World Fuel Services Corp (NYSE:INT) by 68.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 725,928 shares of the oil and gas company’s stock after purchasing an additional 296,076 shares during the period. Bank of Montreal Can owned approximately 1.11% of World Fuel Services worth $26,104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Panagora Asset Management Inc. boosted its holdings in shares of World Fuel Services by 849.3% in the second quarter. Panagora Asset Management Inc. now owns 247,109 shares of the oil and gas company’s stock valued at $8,886,000 after acquiring an additional 221,077 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in World Fuel Services by 14.3% during the second quarter. Russell Investments Group Ltd. now owns 268,156 shares of the oil and gas company’s stock worth $9,631,000 after buying an additional 33,497 shares in the last quarter. Prudential Financial Inc. boosted its holdings in World Fuel Services by 7.0% during the second quarter. Prudential Financial Inc. now owns 1,766,157 shares of the oil and gas company’s stock worth $63,511,000 after buying an additional 115,064 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in World Fuel Services during the second quarter worth approximately $917,000. Finally, LSV Asset Management boosted its holdings in World Fuel Services by 126.1% during the second quarter. LSV Asset Management now owns 711,650 shares of the oil and gas company’s stock worth $25,590,000 after buying an additional 396,850 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

INT has been the subject of a number of research reports. Zacks Investment Research upgraded 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 report on Wednesday, July 3rd. Stifel Nicolaus raised their target price on shares of World Fuel Services from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. ValuEngine downgraded shares of World Fuel Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, TheStreet upgraded shares of World Fuel Services from a “c+” rating to a “b-” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $42.67.

In other World Fuel Services news, Director Paul H. Stebbins sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $38.05, for a total value of $380,500.00. Following the sale, the director now directly owns 23,692 shares in the company, valued at approximately $901,480.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Alexander Lake sold 4,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $38.96, for a total transaction of $175,320.00. Following the transaction, the executive vice president now directly owns 50,122 shares of the company’s stock, valued at $1,952,753.12. The disclosure for this sale can be found here. Insiders sold a total of 22,500 shares of company stock worth $853,150 over the last quarter. 2.40% of the stock is currently owned by company insiders.

INT stock traded down $0.24 during midday trading on Thursday, reaching $40.90. The company had a trading volume of 149,768 shares, compared to its average volume of 491,278. The company has a market capitalization of $2.66 billion, a P/E ratio of 19.38, a PEG ratio of 3.41 and a beta of 1.17. The company has a 50 day moving average of $38.27 and a two-hundred day moving average of $33.19. The company has a current ratio of 1.35, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. World Fuel Services Corp has a 1 year low of $19.81 and a 1 year high of $41.34.

World Fuel Services (NYSE:INT) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the firm earned $0.47 EPS. World Fuel Services’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that World Fuel Services Corp will post 2.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $0.40 dividend on an annualized basis and a yield of 0.98%. World Fuel Services’s payout ratio is presently 18.96%.

World Fuel Services Profile

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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