World Fuel Services Corp (NYSE:INT) Short Interest Up 8.8% in July
World Fuel Services Corp (NYSE:INT) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,883,900 shares, a growth of 8.8% from the June 15th total of 1,731,500 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 558,000 shares, the days-to-cover ratio is currently 3.4 days.
In other news, Director J Thomas Presby sold 13,078 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $29.23, for a total transaction of $382,269.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Alexander Lake sold 1,500 shares of World Fuel Services stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $32.91, for a total transaction of $49,365.00. Following the completion of the transaction, the executive vice president now directly owns 59,122 shares in the company, valued at $1,945,705.02. The disclosure for this sale can be found here. Insiders have sold 17,578 shares of company stock worth $539,365 over the last ninety days. Insiders own 2.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in World Fuel Services by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,685,164 shares of the oil and gas company’s stock valued at $121,718,000 after buying an additional 245,831 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of World Fuel Services by 2.1% during the first quarter. Brandes Investment Partners LP now owns 1,387,647 shares of the oil and gas company’s stock worth $40,088,000 after purchasing an additional 28,643 shares during the period. River Road Asset Management LLC lifted its holdings in shares of World Fuel Services by 8.8% during the first quarter. River Road Asset Management LLC now owns 1,100,677 shares of the oil and gas company’s stock worth $31,799,000 after purchasing an additional 89,283 shares during the period. Northern Trust Corp lifted its holdings in shares of World Fuel Services by 0.7% during the fourth quarter. Northern Trust Corp now owns 1,080,705 shares of the oil and gas company’s stock worth $23,138,000 after purchasing an additional 7,134 shares during the period. Finally, Norges Bank acquired a new position in shares of World Fuel Services during the fourth quarter worth $20,663,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.
World Fuel Services (NYSE:INT) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. World Fuel Services had a net margin of 0.38% and a return on equity of 8.76%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the business posted $0.47 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts expect that World Fuel Services will post 2.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 10th were given a $0.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. This is a positive change from World Fuel Services’s previous quarterly dividend of $0.06. World Fuel Services’s dividend payout ratio (DPR) is currently 18.96%.
INT has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $129.00 price objective on shares of Columbia Sportswear and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. TheStreet raised shares of Silvercorp Metals from a “c+” rating to a “b-” rating in a research note on Tuesday, July 16th. Finally, ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.67.
About World Fuel Services
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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