International Seaways Inc. $INSW Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 167.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 608,265 shares of the transportation company's stock after purchasing an additional 380,931 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.23% of International Seaways worth $44,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Seaways by 1.9% in the 4th 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 in the last quarter. Resolute Capital LLC purchased a new position in shares of International Seaways in the 4th quarter valued at $1,273,000. NewEdge Wealth LLC raised its stake in International Seaways by 43.1% during the 1st quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company's stock worth $1,818,000 after acquiring an additional 7,511 shares in the last quarter. SG Americas Securities LLC raised its stake in International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company's stock worth $1,664,000 after acquiring an additional 18,935 shares in the last quarter. Finally, Cercano Management LLC purchased a new stake in International Seaways in the fourth quarter valued at $4,137,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on INSW shares. Zacks Research downgraded shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 25th. Pareto Securities cut International Seaways from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a report on Monday, April 13th. 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. Finally, Weiss Ratings upgraded International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and two have issued 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 $86.00.

International Seaways Stock Down 1.9%

INSW stock opened at $90.53 on Tuesday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 8.24 and a beta of -0.12. The company has a fifty day moving average price of $83.86 and a 200 day moving average price of $74.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways Inc. has a 12 month low of $39.06 and a 12 month high of $93.48.

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 (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. The company had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. International Seaways's revenue for the quarter was up 77.5% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Sell-side analysts expect that International Seaways Inc. will post 15.62 earnings per share for the current year.

International Seaways Announces Dividend

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

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William F. Nugent sold 6,830 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the transaction, the senior vice president owned 49,169 shares in the company, valued at $4,190,673.87. This trade represents a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 42,530 shares of company stock worth $3,699,995. Corporate 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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