International Seaways Inc. $INSW Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its International Seaways position by 98.8% in the second quarter, selling 77,226 shares and retaining 933 shares valued at approximately $71,000. Institutional investors and hedge funds collectively own 67.29% of the company.
• International Seaways reported strong quarterly results, with EPS of $5.91 versus expectations of $5.55 and revenue of $467.29 million, up 138.9% year over year. The company also increased its quarterly dividend to $5.05 per share, implying a 19.5% yield.
• Shares opened at $103.59, near their 52-week high of $106.73. Analysts maintain a “Moderate Buy” consensus, with five Buy ratings and an average price target of $94.75, although one analyst recently downgraded the stock to Hold.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 98.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 933 shares of the transportation company's stock after selling 77,226 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in International Seaways were worth $71,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in International Seaways in the 2nd quarter worth about $28,000. Leonteq Securities AG acquired a new stake in International Seaways in the fourth quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at approximately $46,000. Rockefeller Capital Management L.P. increased its position in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock valued at $47,000 after buying an additional 822 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of International Seaways during the 2nd quarter worth approximately $48,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Down 0.1%

NYSE INSW opened at $103.59 on Monday. The business has a fifty day moving average price of $94.55 and a 200 day moving average price of $83.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market cap of $5.13 billion, a P/E ratio of 6.62, a P/E/G ratio of 0.27 and a beta of -0.13. International Seaways Inc. has a one year low of $42.26 and a one year high of $106.73.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million for the quarter, compared to analysts' expectations of $406.38 million. During the same quarter in the previous year, the company posted $1.02 EPS. The firm's quarterly revenue was up 138.9% on a year-over-year basis. Research analysts anticipate that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $5.05 per share. The ex-dividend date is Thursday, September 10th. 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 yield of 19.5%. International Seaways's dividend payout ratio (DPR) is presently 129.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of International Seaways in a report on Friday, August 7th. Jefferies Financial Group lifted their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. BTIG Research boosted their target price on shares of International Seaways from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Finally, Zacks Research downgraded shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.75.

Insiders Place Their Bets

In related news, CEO Lois Zabrocky sold 2,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the sale, the chief executive officer owned 173,745 shares of the company's stock, valued at approximately $17,103,457.80. This represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

International Seaways Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company's vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.

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