International Seaways Inc. $INSW Shares Newly Bought by Inspire Investing LLC

Key Points

• Inspire Investing bought 22,515 shares of International Seaways in the third quarter, valued at approximately $2.48 million. Institutional investors collectively own 67.29% of the company.
• International Seaways reported strong quarterly results, with EPS of $5.91 beating estimates and revenue rising 138.9% year over year to $467.29 million. Analysts expect full-year EPS of $17.47.
• The company increased its quarterly dividend to $5.05 per share, implying an annualized yield of 18.2%, while analysts maintained an overall “Buy” consensus and a $109.80 average price target.

Inspire Investing LLC bought a new stake in shares of International Seaways Inc. (NYSE:INSW - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,515 shares of the transportation company's stock, valued at approximately $2,480,000.

Several other institutional investors also recently bought and sold shares of INSW. BlackRock Inc. purchased a new position in International Seaways in the 2nd quarter worth approximately $505,153,000. Dimensional Fund Advisors LP boosted its stake in shares of International Seaways by 1.8% during the first 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. Arrowstreet Capital Limited Partnership boosted its stake in shares of International Seaways by 167.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock valued at $44,330,000 after purchasing an additional 380,931 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of International Seaways during the second quarter valued at approximately $21,082,000. Finally, Empowered Funds LLC bought a new position in shares of International Seaways in the second quarter worth approximately $19,711,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Stock Up 0.1%

Shares of NYSE:INSW opened at $110.93 on Monday. The stock's 50-day moving average is $107.22 and its 200 day moving average is $92.41. The company has a market cap of $5.49 billion, a PE ratio of 7.09, a P/E/G ratio of 0.29 and a beta of -0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. International Seaways Inc. has a 1 year low of $46.09 and a 1 year high of $126.27.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.36. The business had revenue of $467.29 million during the quarter, compared to analysts' expectations of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The business's revenue was up 138.9% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Sell-side analysts anticipate that International Seaways Inc. will post 17.47 EPS for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a dividend of $5.05 per share. This is a boost from International Seaways's previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a dividend yield of 18.2%. The ex-dividend date was Thursday, September 10th. International Seaways's dividend payout ratio is currently 129.16%.

Insider Buying and Selling

In related news, major shareholder Finance Ltd Famatown sold 102,000 shares of International Seaways stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $111.82, for a total value of $11,405,640.00. Following the sale, the insider owned 6,932,458 shares in the company, valued at $775,187,453.56. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total transaction of $228,460.00. Following the completion of the sale, the chief executive officer owned 169,745 shares in the company, valued at approximately $19,389,971.35. This trade represents a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 451,290 shares of company stock valued at $51,351,266. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INSW shares. Zacks Research raised shares of International Seaways from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 7th. Wall Street Zen cut shares of International Seaways from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. Weiss Ratings raised shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, B. Riley Financial boosted their price objective on shares of International Seaways from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $109.80.

International Seaways Profile

International Seaways, Inc NYSE: INSW is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company's fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.

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