World Fuel Services Co. (NYSE:INT) declared a quarterly dividend on Tuesday, September 7th, RTT News reports. Stockholders of record on Friday, September 17th will be paid a dividend of 0.12 per share by the oil and gas company on Friday, October 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, September 16th.
World Fuel Services has raised its dividend payment by 66.7% over the last three years and has increased its dividend annually for the last 1 consecutive years. World Fuel Services has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Analysts expect World Fuel Services to earn $2.38 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 20.2%.
Shares of INT stock opened at $32.20 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.23 and a current ratio of 1.40. World Fuel Services has a one year low of $18.36 and a one year high of $37.68. The company’s 50-day simple moving average is $31.83 and its 200-day simple moving average is $32.97. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 4.34 and a beta of 1.30.
Separately, Zacks Investment Research raised shares of World Fuel Services from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Wednesday, August 4th.
In other World Fuel Services news, Director Ken Bakshi sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $32.27, for a total value of $64,540.00. Following the sale, the director now owns 40,067 shares in the company, valued at $1,292,962.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $162,500.00. Following the completion of the sale, the executive vice president now owns 62,109 shares in the company, valued at approximately $2,018,542.50. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
A hedge fund recently raised its stake in World Fuel Services stock. Morgan Stanley lifted its stake in shares of World Fuel Services Co. (NYSE:INT) by 102.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,841 shares of the oil and gas company’s stock after acquiring an additional 141,495 shares during the quarter. Morgan Stanley owned about 0.44% of World Fuel Services worth $8,880,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 90.46% of the company’s stock.
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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