Meeder Asset Management Inc. reduced its holdings in World Fuel Services Co. (NYSE:INT) by 87.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 800 shares of the oil and gas company’s stock after selling 5,669 shares during the period. Meeder Asset Management Inc.’s holdings in World Fuel Services were worth $26,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Swiss National Bank grew its holdings in World Fuel Services by 0.9% in the third quarter. Swiss National Bank now owns 139,800 shares of the oil and gas company’s stock valued at $4,700,000 after purchasing an additional 1,200 shares during the period. Russell Investments Group Ltd. lifted its position in shares of World Fuel Services by 7.1% in the third quarter. Russell Investments Group Ltd. now owns 119,874 shares of the oil and gas company’s stock valued at $4,025,000 after acquiring an additional 7,995 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of World Fuel Services by 102.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,441 shares of the oil and gas company’s stock valued at $116,000 after acquiring an additional 1,739 shares in the last quarter. Deutsche Bank AG lifted its position in shares of World Fuel Services by 2.0% in the third quarter. Deutsche Bank AG now owns 55,572 shares of the oil and gas company’s stock valued at $1,868,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of World Fuel Services in the third quarter valued at approximately $319,000. 93.60% of the stock is currently owned by institutional investors.
NYSE INT opened at $28.49 on Friday. The business’s fifty day simple moving average is $26.92 and its 200-day simple moving average is $30.12. The company has a quick ratio of 1.21, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.80 billion, a PE ratio of 33.13 and a beta of 1.16. World Fuel Services Co. has a 52 week low of $24.29 and a 52 week high of $37.68.
The company also recently declared a quarterly dividend, which was paid on Friday, January 7th. Stockholders of record on Friday, December 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, December 16th. World Fuel Services’s payout ratio is presently 55.81%.
Several equities analysts have recently weighed in on the company. Bank of America downgraded World Fuel Services from a “buy” rating to an “underperform” rating and decreased their target price for the company from $40.00 to $33.00 in a research report on Friday, October 1st. Zacks Investment Research upgraded World Fuel Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 29th.
About World Fuel Services
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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