Deutsche Bank AG Takes Position in International Seaways Inc. $INSW

Key Points

• Deutsche Bank acquired 43,191 shares of International Seaways during the second quarter, worth approximately $3.3 million. Institutional investors collectively own 67.29% of the company.
• International Seaways exceeded quarterly expectations, reporting $5.91 EPS versus the $5.55 estimate and revenue of $467.29 million, up 138.9% year over year.
• The company raised its quarterly dividend to $5.05 per share, equivalent to an annualized $20.20 dividend and a reported 21.6% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $88.

Deutsche Bank AG acquired a new position in International Seaways Inc. (NYSE:INSW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 43,191 shares of the transportation company's stock, valued at approximately $3,308,000. Deutsche Bank AG owned about 0.09% of International Seaways at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in International Seaways by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company's stock valued at $220,436,000 after purchasing an additional 52,743 shares during the period. Geode Capital Management LLC raised its position in shares of International Seaways by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company's stock valued at $49,083,000 after buying an additional 4,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company's stock valued at $31,013,000 after buying an additional 12,188 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of International Seaways by 167.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock valued at $44,330,000 after buying an additional 380,931 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in International Seaways by 7.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company's stock worth $20,133,000 after buying an additional 27,818 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the transaction, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the sale, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,000 shares of company stock worth $441,240. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

INSW has been the topic of several research reports. BTIG Research boosted their price target on International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Weiss Ratings reiterated a "buy (b-)" rating on shares of International Seaways in a research report on Friday, August 7th. Zacks Research lowered International Seaways from a "strong-buy" rating to a "hold" rating in a report on Monday. Pareto Securities cut International Seaways from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group upped their target price on International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, International Seaways has a consensus rating of "Moderate Buy" and an average price target of $88.00.

International Seaways Stock Performance

Shares of NYSE:INSW opened at $93.50 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The business's fifty day moving average price is $89.95 and its two-hundred day moving average price is $80.76. International Seaways Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $102.36. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 5.98 and a beta of -0.13.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company had revenue of $467.29 million during the quarter, compared to analysts' expectations of $406.38 million. During the same period last year, the business earned $1.02 earnings per share. The business's revenue was up 138.9% on a year-over-year basis. As a group, analysts predict that International Seaways Inc. will post 15.89 EPS 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. Investors of record on Thursday, September 10th will be issued a dividend of $5.05 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 21.6%. This is an increase from International Seaways's previous quarterly dividend of $0.12. International Seaways's payout ratio is 3.07%.

About International Seaways

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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