Benjamin Edwards Inc. acquired a new stake in shares of International Seaways Inc. (NYSE:INSW - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,504 shares of the transportation company's stock, valued at approximately $881,000.
A number of other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in International Seaways during the 2nd quarter valued at approximately $28,000. Leonteq Securities AG bought a new stake in shares of International Seaways in the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of International Seaways in the 4th quarter worth approximately $46,000. Rockefeller Capital Management L.P. increased its stake in shares of International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock valued at $47,000 after buying an additional 822 shares during the period. Finally, Allworth Financial LP bought a new position in shares of International Seaways during the second quarter valued at approximately $48,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. BTIG Research raised their price target on International Seaways from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Zacks Research downgraded shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Jefferies Financial Group raised their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of International Seaways in a research note on Friday, August 7th. Finally, Pareto Securities downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $94.75.
Get Our Latest Stock Report on INSW
International Seaways Stock Up 1.5%
Shares of International Seaways stock opened at $101.26 on Thursday. International Seaways Inc. has a 1 year low of $42.26 and a 1 year high of $102.36. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 6.47 and a beta of -0.13. The company has a 50-day moving average of $91.21 and a 200 day moving average of $82.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76.
International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.International Seaways's quarterly revenue was up 138.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. As a group, sell-side analysts anticipate that International Seaways Inc. will post 16.09 earnings per share for the current fiscal year.
International Seaways Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $5.05 per share. The ex-dividend date is Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.9%. This is an increase from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio is presently 3.07%.
Insider Transactions at International Seaways
In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the transaction, the chief executive officer owned 173,745 shares in the company, valued at $17,103,457.80. This represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,000 shares of company stock valued at $441,240. Corporate insiders own 1.70% of the company's stock.
International Seaways Profile
(
Free Report)
International Seaways, Inc NYSE: INSW is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time charter and voyage charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.
Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.
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