Engineers Gate Manager LP lessened its stake in shares of World Fuel Services Corp (NYSE:INT) by 31.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,782 shares of the oil and gas company’s stock after selling 19,198 shares during the quarter. Engineers Gate Manager LP owned about 0.06% of World Fuel Services worth $1,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its stake in World Fuel Services by 130.8% during the second quarter. Acrospire Investment Management LLC now owns 3,000 shares of the oil and gas company’s stock worth $115,000 after buying an additional 1,700 shares during the period. Victory Capital Management Inc. raised its holdings in shares of World Fuel Services by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,789 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 567 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in World Fuel Services in the second quarter worth about $195,000. TD Asset Management Inc. bought a new position in World Fuel Services in the third quarter worth about $204,000. Finally, Shelton Capital Management bought a new position in World Fuel Services in the second quarter worth about $205,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. BidaskClub downgraded shares of World Fuel Services from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Bank of America downgraded shares of World Fuel Services from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $41.00 to $36.00 in a report on Tuesday, September 26th.

World Fuel Services Corp (NYSE INT) traded up $0.50 during trading on Tuesday, reaching $27.69. The company’s stock had a trading volume of 610,700 shares, compared to its average volume of 545,315. 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 Corp has a 1-year low of $25.80 and a 1-year high of $47.49. The stock has a market cap of $1,838.55, a price-to-earnings ratio of 17.21, a PEG ratio of 2.43 and a beta of 0.92.

World Fuel Services (NYSE:INT) last announced its 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. World Fuel Services had a return on equity of 5.54% and a net margin of 0.08%. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter last year, the firm posted $0.82 EPS. The business’s revenue was up 15.4% on a year-over-year basis. sell-side analysts forecast that World Fuel Services Corp will post 2.24 earnings per share for the current fiscal year.

World Fuel Services announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, December 14th. World Fuel Services’s dividend payout ratio (DPR) is presently 68.57%.

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About World Fuel Services

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 (NYSE:INT)

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