Cubist Systematic Strategies LLC Buys New Holdings in World Fuel Services Corporation (INT)

Cubist Systematic Strategies LLC bought a new position in World Fuel Services Corporation (NYSE:INT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,066 shares of the oil and gas company’s stock, valued at approximately $195,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sciencast Management LP bought a new stake in World Fuel Services Corporation in the second quarter worth $273,000. State Street Corp boosted its holdings in World Fuel Services Corporation by 9.4% in the second quarter. State Street Corp now owns 2,748,764 shares of the oil and gas company’s stock worth $105,695,000 after acquiring an additional 236,408 shares in the last quarter. Gotham Asset Management LLC bought a new stake in World Fuel Services Corporation in the second quarter worth $502,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in World Fuel Services Corporation by 374.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 255,014 shares of the oil and gas company’s stock worth $9,805,000 after acquiring an additional 201,303 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in World Fuel Services Corporation in the second quarter worth $101,136,000. 89.37% of the stock is currently owned by institutional investors and hedge funds.

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In other news, SVP Carlos M. Velazquez sold 6,850 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $33.74, for a total transaction of $231,119.00. Following the transaction, the senior vice president now directly owns 16,946 shares of the company’s stock, valued at $571,758.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Alexander Lake sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $35.00, for a total value of $52,500.00. Following the transaction, the executive vice president now directly owns 42,302 shares in the company, valued at $1,480,570. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Several research firms have commented on INT. Bank of America Corporation downgraded World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $41.00 to $36.00 in a report on Tuesday, September 26th. BidaskClub raised World Fuel Services Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Zacks Investment Research downgraded World Fuel Services Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st.

World Fuel Services Corporation (NYSE:INT) opened at $28.41 on Friday. The stock has a market capitalization of $1,921.06, a price-to-earnings ratio of 17.98, a PEG ratio of 2.54 and a beta of 0.90. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.58. World Fuel Services Corporation has a 1-year low of $27.61 and a 1-year high of $47.49.

World Fuel Services Corporation (NYSE:INT) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.19 billion. World Fuel Services Corporation had a return on equity of 5.54% and a net margin of 0.08%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. analysts predict that World Fuel Services Corporation will post 2.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 16th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, October 13th. World Fuel Services Corporation’s payout ratio is currently 68.57%.

World Fuel Services Corporation announced that its board has approved a share repurchase plan on Wednesday, October 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

About World Fuel Services Corporation

World Fuel Services Corporation is engaged in providing aviation, marine and land energy, logistics and technology solutions to customers and suppliers around the world. The Company operates through three segments: Aviation, Marine and Land. In its Aviation segment, the Company offers fuel and related products and services.

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

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