Morgan Stanley Has $603,000 Stock Holdings in World Fuel Services Corp (NYSE:INT)

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Morgan Stanley lessened its position in shares of World Fuel Services Corp (NYSE:INT) by 76.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,770 shares of the oil and gas company’s stock after selling 54,053 shares during the quarter. Morgan Stanley’s holdings in World Fuel Services were worth $603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INT. First Trust Advisors LP acquired a new position in shares of World Fuel Services during the first quarter valued at $473,000. Cortina Asset Management LLC lifted its stake in World Fuel Services by 30.4% in the second quarter. Cortina Asset Management LLC now owns 342,661 shares of the oil and gas company’s stock valued at $12,322,000 after buying an additional 79,861 shares during the period. Investors Research Corp lifted its stake in World Fuel Services by 9.9% in the second quarter. Investors Research Corp now owns 8,850 shares of the oil and gas company’s stock valued at $318,000 after buying an additional 800 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in World Fuel Services by 24.9% in the second quarter. Campbell & CO Investment Adviser LLC now owns 9,324 shares of the oil and gas company’s stock valued at $335,000 after buying an additional 1,858 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in World Fuel Services in the second quarter valued at about $3,531,000. 93.98% of the stock is currently owned by institutional investors and hedge funds.

In other World Fuel Services news, CEO Michael J. Kasbar sold 41,125 shares of the stock in a transaction dated Monday, October 7th. The stock was 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 in the company, valued at $31,385,648.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Kasbar sold 23,836 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $39.03, for a total value of $930,319.08. Following the completion of the sale, the chief executive officer now owns 800,246 shares of the company’s stock, valued at $31,233,601.38. The disclosure for this sale can be found here. Insiders sold 80,450 shares of company stock valued at $3,132,902 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Several equities analysts have weighed in on INT shares. Zacks Investment Research lowered 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 increased their target price on World Fuel Services from $43.00 to $46.00 and gave the company 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. The stock currently has an average rating of “Buy” and an average target price of $44.33.

NYSE:INT opened at $43.06 on Friday. World Fuel Services Corp has a 1-year low of $19.81 and a 1-year high of $44.33. The business’s 50-day moving average price is $40.17 and its two-hundred day moving average price is $36.22. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.46 and a beta of 1.15.

World Fuel Services (NYSE:INT) last released its earnings results on Wednesday, October 30th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.08. World Fuel Services had a return on equity of 9.12% and a net margin of 0.42%. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.91 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis. Sell-side analysts predict that World Fuel Services Corp will post 2.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were issued a $0.10 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. World Fuel Services’s dividend payout ratio (DPR) is currently 18.96%.

World Fuel Services Company 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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