First Trust Advisors LP Increases Stock Holdings in International Seaways Inc. $INSW

First Trust Advisors LP boosted its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 65.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,630 shares of the transportation company's stock after buying an additional 69,383 shares during the period. First Trust Advisors LP owned approximately 0.35% of International Seaways worth $12,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Horizon Corp raised its position in shares of International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after purchasing an additional 377 shares during the last quarter. Leonteq Securities AG purchased a new stake in International Seaways during the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in International Seaways during the 4th quarter worth approximately $46,000. Rockefeller Capital Management L.P. increased its stake in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock valued at $47,000 after purchasing an additional 822 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in International Seaways during the 3rd quarter valued at approximately $53,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Stock Performance

Shares of NYSE INSW opened at $95.31 on Friday. The company has a 50 day simple moving average of $84.42 and a two-hundred day simple moving average of $75.72. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 8.68 and a beta of -0.12. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12 month low of $39.06 and a 12 month high of $95.65.

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

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.12 per share. 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 Buying and Selling

In other news, SVP Derek G. Solon sold 4,700 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 25,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the sale, the chief executive officer owned 181,745 shares in the company, valued at $16,008,099.60. The trade was a 12.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 42,530 shares of company stock worth $3,699,995. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INSW shares. Weiss Ratings upgraded shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Pareto Securities lowered International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Zacks Research raised International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus 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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