Brandywine Global Investment Management LLC boosted its holdings in shares of World Fuel Services Co. (NYSE:INT) by 59.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 248,319 shares of the oil and gas company’s stock after purchasing an additional 92,865 shares during the period. Brandywine Global Investment Management LLC’s holdings in World Fuel Services were worth $7,879,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of World Fuel Services by 230.9% in the first quarter. Captrust Financial Advisors now owns 867 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 605 shares during the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of World Fuel Services in the second quarter worth $39,000. Fox Run Management L.L.C. acquired a new stake in shares of World Fuel Services in the second quarter worth $210,000. Qube Research & Technologies Ltd acquired a new stake in shares of World Fuel Services in the second quarter worth $264,000. Finally, Xponance Inc. grew its stake in shares of World Fuel Services by 42.2% in the second quarter. Xponance Inc. now owns 9,971 shares of the oil and gas company’s stock worth $316,000 after acquiring an additional 2,961 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Ken Bakshi sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $32.27, for a total value of $64,540.00. Following the sale, the director now directly owns 40,067 shares of the company’s stock, valued at $1,292,962.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Crosby sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $32.50, for a total value of $162,500.00. Following the completion of the sale, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $2,018,542.50. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
World Fuel Services (NYSE:INT) last released its earnings results on Thursday, July 29th. The oil and gas company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The firm had revenue of $7.09 billion for the quarter, compared to analysts’ expectations of $6.29 billion. World Fuel Services had a return on equity of 3.48% and a net margin of 0.52%. Equities research analysts predict that World Fuel Services Co. will post 1.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 8th. Shareholders of record on Friday, September 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, September 16th. World Fuel Services’s payout ratio is 41.74%.
A number of equities research analysts have weighed in on the stock. Bank of America downgraded shares of World Fuel Services from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $40.00 to $33.00 in a research note on Friday, October 1st. Zacks Investment Research cut World Fuel Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 5th.
World Fuel Services Company Profile
World Fuel Services Corp. engages in the distribution of fuel and related products and services in the aviation, marine, and land transportation industries. It operates through the following segments: Aviation, Land, and Marine. The Aviation segment supply fuel and service solutions to commercial airlines, second and third-tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, and private aircraft.
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