Charles Schwab Investment Management Inc. Has $31.01 Million Stock Holdings in International Seaways Inc. $INSW

Key Points

• Charles Schwab Investment Management increased its stake in International Seaways by 1.9% in the fourth quarter, ending with 638,791 shares valued at about $31.0 million.
• International Seaways reported strong quarterly results, posting EPS of $3.90 versus $2.87 expected and revenue of $325.48 million, both well above analyst estimates. Revenue also rose 77.5% year over year.
• Analyst sentiment remains favorable overall, with six Buy ratings and one Hold, plus an average price target of $83.50. The company also announced a quarterly dividend of $0.12 per share, yielding about 0.6%.

Charles Schwab Investment Management Inc. increased its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 638,791 shares of the transportation company's stock after buying an additional 12,188 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.29% of International Seaways worth $31,013,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company's stock worth $452,000 after acquiring an additional 200 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of International Seaways by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company's stock worth $572,000 after acquiring an additional 206 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of International Seaways by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock worth $380,000 after acquiring an additional 241 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of International Seaways by 2.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company's stock worth $453,000 after acquiring an additional 274 shares in the last quarter. Finally, Founders Capital Management boosted its holdings in shares of International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company's stock worth $53,000 after acquiring an additional 300 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSW. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Weiss Ratings raised International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.50.

Insider Activity at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $74.88, for a total transaction of $374,400.00. Following the completion of the sale, the director owned 10,213 shares in the company, valued at approximately $764,749.44. The trade was a 32.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 25,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the sale, the chief executive officer owned 181,745 shares of the company's stock, valued at $16,008,099.60. The trade was a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 97,227 shares of company stock worth $7,720,525. 1.70% of the stock is owned by company insiders.

International Seaways Stock Performance

INSW stock opened at $84.57 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The company has a 50 day moving average price of $76.29 and a 200 day moving average price of $62.87. International Seaways Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $92.66. The stock has a market capitalization of $4.19 billion, a PE ratio of 7.70 and a beta of -0.09.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm had revenue of $325.48 million during the quarter, compared to analysts' expectations of $279.34 million. During the same quarter in the previous year, the company posted $0.80 EPS. International Seaways's revenue was up 77.5% on a year-over-year basis. Analysts forecast that International Seaways Inc. will post 14.99 EPS for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways's payout ratio is 4.37%.

International Seaways Profile

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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