Municipal Employees Retirement System of Michigan decreased its position in World Fuel Services Corporation (NYSE:INT) by 18.5% during the second quarter, Holdings Channel reports. The fund owned 26,410 shares of the oil and gas company’s stock after selling 5,990 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in World Fuel Services Corporation were worth $1,015,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of World Fuel Services Corporation by 12.6% in the first quarter. Bank of Montreal Can now owns 109,767 shares of the oil and gas company’s stock worth $3,979,000 after buying an additional 12,274 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 worth $16,242,000 after buying an additional 14,303 shares during the last quarter. Credit Agricole S A increased its position in shares of World Fuel Services Corporation by 199.4% in the first quarter. Credit Agricole S A now owns 9,164 shares of the oil and gas company’s stock worth $332,000 after buying an additional 6,103 shares during the last quarter. Trexquant Investment LP bought a new position in shares of World Fuel Services Corporation during the first quarter worth approximately $807,000. Finally, TLP Group LLC bought a new position in shares of World Fuel Services Corporation during the first quarter worth approximately $329,000. Hedge funds and other institutional investors own 91.24% of the company’s stock.

World Fuel Services Corporation (INT) opened at 33.64 on Friday. The firm’s 50-day moving average price is $37.04 and its 200-day moving average price is $37.60. World Fuel Services Corporation has a 12 month low of $32.28 and a 12 month high of $47.49. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 22.03 and a beta of 0.93.

World Fuel Services Corporation (NYSE:INT) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.06. World Fuel Services Corporation had a net margin of 0.34% and a return on equity of 5.60%. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.41 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts predict that World Fuel Services Corporation will post $2.28 earnings per share for the current year.

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A number of research analysts recently commented on INT shares. Zacks Investment Research downgraded World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub downgraded World Fuel Services Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, TheStreet downgraded World Fuel Services Corporation from a “b” rating to a “c” rating in a research note on Friday, May 5th.

In related news, EVP Robert Alexander Lake sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was 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 directly owns 42,302 shares of the company’s stock, valued at approximately $1,480,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ken Bakshi sold 3,049 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $38.05, for a total value of $116,014.45. Following the sale, the director now directly owns 35,726 shares of the company’s stock, valued at $1,359,374.30. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

About World Fuel Services Corporation

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.

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

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