BlackRock Inc. trimmed its position in World Fuel Services Corp (NYSE:INT) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,866,589 shares of the oil and gas company’s stock after selling 193,091 shares during the quarter. BlackRock Inc. owned about 12.03% of World Fuel Services worth $282,883,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Financial Gravity Wealth Inc. lifted its holdings in shares of World Fuel Services by 269.0% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,871 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,364 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of World Fuel Services by 26.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,723 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 562 shares during the last quarter. US Bancorp DE lifted its holdings in shares of World Fuel Services by 10.3% in the 2nd quarter. US Bancorp DE now owns 3,018 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 282 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in shares of World Fuel Services in the 2nd quarter worth approximately $201,000. Finally, AMP Capital Investors Ltd acquired a new position in shares of World Fuel Services in the 2nd quarter worth approximately $211,000. Institutional investors own 93.07% of the company’s stock.
In related news, CEO Michael J. Kasbar sold 41,125 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $39.22, for a total transaction of $1,612,922.50. Following the sale, the chief executive officer now directly owns 800,246 shares of the company’s stock, valued at approximately $31,385,648.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard A. Kassar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $37.92, for a total transaction of $189,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,450 shares of company stock worth $3,348,352. 2.40% of the stock is owned by insiders.
Shares of INT opened at $43.01 on Friday. World Fuel Services Corp has a fifty-two week low of $19.81 and a fifty-two week high of $44.33. The firm’s 50 day moving average price is $40.57 and its 200 day moving average price is $36.58. The company has a market cap of $2.82 billion, a P/E ratio of 20.38, a PEG ratio of 3.47 and a beta of 1.15. The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 0.36.
World Fuel Services (NYSE:INT) last announced its earnings results on Wednesday, October 30th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.08. World Fuel Services had a net margin of 0.42% and a return on equity of 9.12%. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.91 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. Research analysts forecast that World Fuel Services Corp will post 2.49 earnings per share for the current year.
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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