Inspire Investing LLC Invests $1.72 Million in International Seaways Inc. $INSW

Key Points

• Inspire Investing LLC opened a new position in International Seaways, buying 23,620 shares worth about $1.72 million in the first quarter.
• International Seaways reported strong quarterly results, with EPS of $3.90 beating estimates and revenue of $325.48 million rising 77.5% year over year.
• The stock has seen mixed signals: it was down 1.4% on the day, analysts currently rate it a Moderate Buy with an average target of $86.00, and insiders have recently sold shares.

Inspire Investing LLC bought a new position in shares of International Seaways Inc. (NYSE:INSW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,620 shares of the transportation company's stock, valued at approximately $1,721,000.

A number of other large investors have also recently bought and sold shares of INSW. Oregon Public Employees Retirement Fund raised its position in International Seaways by 2.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company's stock worth $452,000 after buying an additional 200 shares during 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 valued at $380,000 after acquiring an additional 241 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company's stock worth $959,000 after acquiring an additional 275 shares during the period. Founders Capital Management increased its stake in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company's stock worth $53,000 after acquiring an additional 300 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of International Seaways by 1.1% during the fourth quarter. Deutsche Bank AG now owns 31,168 shares of the transportation company's stock worth $1,513,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Stock Down 1.4%

INSW stock opened at $76.74 on Wednesday. International Seaways Inc. has a one year low of $36.21 and a one year high of $92.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The firm's fifty day moving average is $82.56 and its 200 day moving average is $69.70. The firm has a market cap of $3.80 billion, a PE ratio of 6.99 and a beta of -0.12.

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

International Seaways Dividend Announcement

The firm 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. The ex-dividend date was Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways's dividend payout ratio is currently 4.37%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INSW shares. Pareto Securities downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft increased their price target on International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Wall Street Zen upgraded International Seaways from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 13th. Jefferies Financial Group reissued a "buy" rating and issued a $100.00 price objective on shares of International Seaways in a report on Friday, May 8th. Finally, Weiss Ratings raised International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.00.

Insiders Place Their Bets

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the sale, the chief financial officer directly owned 101,984 shares of the company's stock, valued at approximately $8,330,053.12. This trade represents 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 accessible through this hyperlink. Also, SVP Derek G. Solon sold 4,700 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the sale, the senior vice president owned 49,719 shares of the company's stock, valued at $4,435,929.18. This trade represents a 8.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 45,530 shares of company stock worth $3,923,635. Company insiders own 1.70% of the company's stock.

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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