Castleark Management LLC boosted its position in World Fuel Services Corp (NYSE:INT) by 445.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 230,995 shares of the oil and gas company’s stock after purchasing an additional 188,645 shares during the period. Castleark Management LLC’s holdings in World Fuel Services were worth $8,307,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of INT. Financial Gravity Wealth Inc. increased its stake in shares of 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 valued at $67,000 after acquiring an additional 1,364 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of 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 valued at $98,000 after acquiring an additional 562 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in shares of World Fuel Services during the 2nd quarter valued at about $201,000. SG Americas Securities LLC acquired a new position in shares of World Fuel Services during the 1st quarter valued at about $209,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of World Fuel Services during the 1st quarter valued at about $216,000. 94.19% of the stock is owned by institutional investors.
Shares of NYSE INT traded down $0.48 on Thursday, reaching $40.66. 1,299 shares of the company traded hands, compared to its average volume of 491,278. World Fuel Services Corp has a fifty-two week low of $19.81 and a fifty-two week high of $41.34. The company has a 50 day moving average of $38.27 and a 200 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. The stock has a market capitalization of $2.66 billion, a PE ratio of 19.35, a P/E/G ratio of 3.41 and a beta of 1.17.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, September 24th. World Fuel Services’s payout ratio is currently 18.96%.
In other news, Director Richard A. Kassar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $37.92, for a total transaction of $189,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Alexander Lake sold 3,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold a total of 22,500 shares of company stock valued at $853,150 in the last quarter. Company insiders own 2.40% of the company’s stock.
A number of research analysts have recently commented on INT shares. Stifel Nicolaus upped their price objective on shares of World Fuel Services from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. ValuEngine downgraded shares of World Fuel Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of World Fuel Services from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, July 3rd. Finally, TheStreet raised shares of World Fuel Services from a “c+” rating to a “b-” rating in a research note on Tuesday, July 16th. One equities research 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. The stock presently has a consensus rating of “Buy” and a consensus price target 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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