Teachers Retirement System of The State of Kentucky lessened its stake in World Fuel Services Corporation (NYSE:INT) by 64.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,810 shares of the oil and gas company’s stock after selling 30,807 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in World Fuel Services Corporation were worth $646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its stake in shares of World Fuel Services Corporation by 13.2% in the second quarter. Artisan Partners Limited Partnership now owns 3,052,815 shares of the oil and gas company’s stock valued at $117,381,000 after buying an additional 355,049 shares during the period. Prudential Financial Inc. lifted its stake in shares of World Fuel Services Corporation by 13.7% in the second quarter. Prudential Financial Inc. now owns 685,909 shares of the oil and gas company’s stock valued at $26,374,000 after buying an additional 82,740 shares during the period. Sei Investments Co. lifted its stake in shares of World Fuel Services Corporation by 151.3% in the second quarter. Sei Investments Co. now owns 26,834 shares of the oil and gas company’s stock valued at $1,032,000 after buying an additional 16,156 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of World Fuel Services Corporation by 3.3% in the first quarter. JPMorgan Chase & Co. now owns 448,030 shares of the oil and gas company’s stock valued at $16,242,000 after buying an additional 14,303 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of World Fuel Services Corporation by 3.6% in the second quarter. Legal & General Group Plc now owns 172,060 shares of the oil and gas company’s stock valued at $6,615,000 after buying an additional 6,044 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

World Fuel Services Corporation (INT) opened at 35.26 on Tuesday. The company has a market cap of $2.41 billion, a PE ratio of 23.09 and a beta of 0.95. World Fuel Services Corporation has a 52 week low of $32.28 and a 52 week high of $47.49. The firm’s 50-day moving average is $35.29 and its 200-day moving average is $36.09.

World Fuel Services Corporation (NYSE:INT) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.06). The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $8.41 billion. World Fuel Services Corporation had a net margin of 0.34% and a return on equity of 5.60%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, analysts expect that World Fuel Services Corporation will post $2.26 EPS for the current fiscal year.

World Fuel Services Corporation announced that its Board of Directors has authorized a share buyback program 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. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

The company 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 0.68%. The ex-dividend date of this dividend is Friday, October 13th. World Fuel Services Corporation’s dividend payout ratio (DPR) is presently 15.69%.

A number of research analysts have commented on the stock. BidaskClub cut shares of World Fuel Services Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Bank of America Corporation cut shares of World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $41.00 to $36.00 in a research note on Tuesday, September 26th. Finally, Zacks Investment Research cut shares of World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.00.

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

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/17/teachers-retirement-system-of-the-state-of-kentucky-trims-position-in-world-fuel-services-corporation-int.html.

World Fuel Services Corporation Profile

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.

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

Receive News & Stock Ratings for World Fuel Services Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Fuel Services Corporation and related stocks with our FREE daily email newsletter.