First Horizon Advisors Inc. grew its stake in World Fuel Services Co. (NYSE:INT) by 1,702.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,424 shares of the oil and gas company’s stock after purchasing an additional 3,234 shares during the period. First Horizon Advisors Inc.’s holdings in World Fuel Services were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of INT. PNC Financial Services Group Inc. grew its position in shares of World Fuel Services by 102.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,441 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 1,739 shares in the last quarter. Eukles Asset Management grew its position in World Fuel Services by 18.6% in the third quarter. Eukles Asset Management now owns 6,759 shares of the oil and gas company’s stock worth $227,000 after acquiring an additional 1,060 shares during the period. Meritage Portfolio Management purchased a new position in World Fuel Services in the third quarter worth approximately $244,000. Qube Research & Technologies Ltd purchased a new position in World Fuel Services in the second quarter worth approximately $264,000. Finally, Dark Forest Capital Management LP purchased a new position in World Fuel Services in the second quarter worth approximately $273,000. Institutional investors and hedge funds own 93.60% of the company’s stock.
Several research analysts recently weighed in on the company. Bank of America lowered World Fuel Services from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $40.00 to $33.00 in a research report on Friday, October 1st. Zacks Investment Research upgraded World Fuel Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 29th.
World Fuel Services (NYSE:INT) last released its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. World Fuel Services had a return on equity of 3.59% and a net margin of 0.21%. The company had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, sell-side analysts expect that World Fuel Services Co. will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 7th. Stockholders of record on Friday, December 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, December 16th. World Fuel Services’s payout ratio is currently 55.81%.
World Fuel Services Company Profile
World Fuel Services Corp. engages in the distribution of fuel and related products and services in the aviation, marine, and land transportation industries. It operates through the following segments: Aviation, Land, and Marine. The Aviation segment supply fuel and service solutions to commercial airlines, second and third-tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, and private aircraft.
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