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LSV Asset Management Grows Position in World Fuel Services Corp (NYSE:INT)

By September 2, 2019 No Comments

LSV Asset Management lifted its holdings in shares of World Fuel Services Corp (NYSE:INT) by 126.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 711,650 shares of the oil and gas company’s stock after purchasing an additional 396,850 shares during the quarter. LSV Asset Management owned about 1.09% of World Fuel Services worth $25,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV acquired a new position in World Fuel Services during the 2nd quarter worth about $15,710,000. Dimensional Fund Advisors LP lifted its stake in World Fuel Services by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,685,164 shares of the oil and gas company’s stock worth $121,718,000 after acquiring an additional 245,831 shares in the last quarter. AJO LP acquired a new position in World Fuel Services during the 1st quarter worth about $6,115,000. Rubric Capital Management LP acquired a new position in World Fuel Services during the 1st quarter worth about $5,768,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in World Fuel Services by 57.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 388,857 shares of the oil and gas company’s stock worth $11,234,000 after acquiring an additional 142,058 shares in the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

INT stock traded up $0.05 during mid-day trading on Friday, reaching $38.40. The company had a trading volume of 328,741 shares, compared to its average volume of 417,947. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.35. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17. The firm has a fifty day simple moving average of $37.55 and a 200 day simple moving average of $32.38. World Fuel Services Corp has a fifty-two week low of $19.81 and a fifty-two week high of $41.25.

World Fuel Services (NYSE:INT) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.77 billion. World Fuel Services had a return on equity of 8.76% and a net margin of 0.38%. World Fuel Services’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. As a group, analysts predict that World Fuel Services Corp will post 2.38 earnings per share for the current year.

In other World Fuel Services news, EVP Robert Alexander Lake sold 3,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $35.91, for a total value of $107,730.00. Following the sale, the executive vice president now owns 54,622 shares of the company’s stock, valued at approximately $1,961,476.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul H. Stebbins sold 10,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $38.05, for a total value of $380,500.00. Following the completion of the sale, the director now directly owns 23,692 shares in the company, valued at approximately $901,480.60. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $902,515 in the last ninety days. 2.40% of the stock is owned by corporate insiders.

Several research firms recently issued reports on INT. Zacks Investment Research raised World Fuel Services from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, July 3rd. TheStreet raised World Fuel Services from a “c+” rating to a “b-” rating in a research note on Tuesday, July 16th. Stifel Nicolaus increased their target price on World Fuel Services from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, ValuEngine lowered World Fuel Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. World Fuel Services currently has a consensus rating of “Buy” and an average target price of $42.67.

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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