River Road Asset Management LLC cut its position in World Fuel Services Corp (NYSE:INT) by 36.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,089,517 shares of the oil and gas company’s stock after selling 623,632 shares during the quarter. River Road Asset Management LLC owned 1.67% of World Fuel Services worth $43,515,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Usca Ria LLC acquired a new stake in shares of World Fuel Services in the third quarter valued at $30,000. First Bank & Trust acquired a new stake in shares of World Fuel Services in the third quarter valued at $56,000. Financial Gravity Wealth Inc. grew its stake in World Fuel Services by 269.0% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,871 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 1,364 shares in the last quarter. Parallel Advisors LLC acquired a new position in World Fuel Services during the 3rd quarter worth $77,000. Finally, Parkside Financial Bank & Trust grew its stake in World Fuel Services by 26.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,723 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 562 shares in the last quarter. 93.07% of the stock is owned by institutional investors and hedge funds.
In other news, Director Paul H. Stebbins sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was 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 of the company’s stock, valued at approximately $901,480.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Kasbar sold 41,125 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $39.22, for a total value of $1,612,922.50. Following the completion of the sale, the chief executive officer now directly owns 800,246 shares of the company’s stock, valued at $31,385,648.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,450 shares of company stock valued at $3,132,902. Insiders own 2.40% of the company’s stock.
World Fuel Services (NYSE:INT) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.08. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.91 billion. World Fuel Services had a return on equity of 9.12% and a net margin of 0.42%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, analysts anticipate that World Fuel Services Corp will post 2.49 EPS for the current fiscal year.
Several research analysts recently commented on INT shares. Zacks Investment Research cut World Fuel Services from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. ValuEngine raised World Fuel Services from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted 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, TheStreet raised World Fuel Services from a “c+” rating to a “b-” rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $44.33.
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.
Featured Story: What moving averages are used to define a golden cross?
Want to see what other hedge funds are holding INT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for World Fuel Services Corp (NYSE:INT).
Receive News & Ratings for World Fuel Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Fuel Services and related companies with MarketBeat.com's FREE daily email newsletter.