Convergence Investment Partners LLC Boosts Stock Holdings in World Fuel Services Corp (NYSE:INT)

Convergence Investment Partners LLC increased its position in shares of World Fuel Services Corp (NYSE:INT) by 35.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,701 shares of the oil and gas company’s stock after purchasing an additional 9,868 shares during the period. Convergence Investment Partners LLC owned approximately 0.06% of World Fuel Services worth $971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in World Fuel Services by 8.4% during the first quarter. State Street Corp now owns 2,811,657 shares of the oil and gas company’s stock worth $71,078,000 after purchasing an additional 217,672 shares in the last quarter. AQR Capital Management LLC raised its holdings in World Fuel Services by 3.7% during the first quarter. AQR Capital Management LLC now owns 2,375,878 shares of the oil and gas company’s stock worth $56,356,000 after purchasing an additional 85,578 shares in the last quarter. Norges Bank purchased a new position in World Fuel Services during the fourth quarter worth about $43,709,000. Geode Capital Management LLC raised its holdings in World Fuel Services by 7.4% during the first quarter. Geode Capital Management LLC now owns 943,269 shares of the oil and gas company’s stock worth $23,751,000 after purchasing an additional 65,074 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in World Fuel Services by 12.6% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 923,483 shares of the oil and gas company’s stock worth $23,253,000 after purchasing an additional 103,007 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

World Fuel Services stock traded up $0.65 during mid-day trading on Friday, reaching $23.53. The company had a trading volume of 619,079 shares, compared to its average volume of 321,904. World Fuel Services Corp has a 1 year low of $20.04 and a 1 year high of $44.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.68 and a quick ratio of 1.52. The company has a market capitalization of $1.49 billion, a P/E ratio of 11.42, a P/E/G ratio of 3.58 and a beta of 1.10. The stock’s 50-day simple moving average is $24.32 and its 200-day simple moving average is $28.06.

World Fuel Services (NYSE:INT) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.22. World Fuel Services had a net margin of 0.46% and a return on equity of 8.55%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the company posted $0.58 EPS. On average, equities analysts forecast that World Fuel Services Corp will post 1.43 EPS for the current fiscal year.

INT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of World Fuel Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. ValuEngine raised shares of World Fuel Services from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd.

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.

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Institutional Ownership by Quarter for World Fuel Services (NYSE:INT)

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