Dimensional Fund Advisors LP Buys 52,743 Shares of International Seaways Inc. $INSW

Key Points

• Dimensional Fund Advisors LP increased its stake in International Seaways by 1.8% in the first quarter, buying 52,743 shares and bringing its total holding to 3,024,755 shares worth about $220.4 million.
• International Seaways posted better-than-expected quarterly results, with EPS of $3.90 versus analysts’ estimate of $2.87 and revenue up 77.5% year over year to $325.48 million.
• The company recently paid a quarterly dividend of $0.12 per share, while analysts remain generally constructive with a consensus Moderate Buy rating and an average price target of $86.00.

Dimensional Fund Advisors LP raised its stake in International Seaways Inc. (NYSE:INSW - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,024,755 shares of the transportation company's stock after purchasing an additional 52,743 shares during the period. Dimensional Fund Advisors LP owned 6.11% of International Seaways worth $220,436,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of International Seaways by 42.0% during the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company's stock worth $311,000 after acquiring an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company's stock worth $800,000 after purchasing an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company's stock worth $4,264,000 after purchasing an additional 18,509 shares during the last quarter. Prudential Financial Inc. acquired a new stake in International Seaways during the 2nd quarter worth approximately $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in International Seaways in the 2nd quarter valued at $1,626,000. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Performance

NYSE:INSW opened at $91.48 on Friday. The stock has a fifty day moving average price of $83.60 and a 200-day moving average price of $74.25. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 8.33 and a beta of -0.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $92.66.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million for the quarter, compared to analysts' expectations of $279.34 million. During the same quarter last year, the business earned $0.80 earnings per share. International Seaways's revenue was up 77.5% on a year-over-year basis. As a group, equities analysts anticipate that International Seaways Inc. will post 15.62 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways's dividend payout ratio (DPR) is currently 4.37%.

Insider Activity

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Derek G. Solon sold 4,700 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the sale, the senior vice president owned 49,719 shares of the company's stock, valued at $4,435,929.18. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,530 shares of company stock valued at $3,699,995 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on INSW shares. BTIG Research upped their price objective on International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Zacks Research cut shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 25th. Jefferies Financial Group reissued a "buy" rating and issued a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Weiss Ratings raised shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.00.

International Seaways Company 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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