Jupiter Topco LLC Takes Position in International Seaways Inc. $INSW

Key Points

• Jupiter Topco LLC acquired 19,175 shares of International Seaways during the second quarter, valued at approximately $1.47 million. Institutional investors collectively own 67.29% of the company.
• International Seaways reported strong quarterly results, with adjusted earnings of $5.91 per share and revenue of $467.29 million, up 138.9% year over year and above analyst estimates.
• The company raised its quarterly dividend to $5.05 per share, implying a 19.4% annualized yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $94.75.

Jupiter Topco LLC acquired a new position in shares of International Seaways Inc. (NYSE:INSW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,175 shares of the transportation company's stock, valued at approximately $1,468,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in shares of International Seaways in the second quarter worth approximately $28,000. Leonteq Securities AG purchased a new stake in shares of International Seaways during the fourth quarter valued at $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways during the fourth quarter valued at $46,000. Rockefeller Capital Management L.P. lifted its holdings 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 buying an additional 822 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in International Seaways in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insider Transactions at International Seaways

In related news, CEO Lois Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer owned 173,745 shares of the company's stock, valued at $17,103,457.80. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,000 shares of company stock worth $441,240. 1.70% of the stock is owned by corporate insiders.

International Seaways Price Performance

NYSE INSW opened at $104.26 on Friday. The company has a market cap of $5.16 billion, a PE ratio of 6.67, a P/E/G ratio of 0.26 and a beta of -0.13. The firm's 50 day moving average price is $92.12 and its 200-day moving average price is $82.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways Inc. has a 52-week low of $42.26 and a 52-week high of $105.50.

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

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $5.05 per share. This is an increase from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.4%. International Seaways's dividend payout ratio (DPR) is currently 129.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INSW. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $107.00 target price on shares of International Seaways in a research report on Tuesday. Zacks Research lowered International Seaways from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Pareto Securities cut International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of International Seaways in a research report on Friday, August 7th. Finally, Jefferies Financial Group upped their target price on International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, International Seaways presently has an average rating of "Moderate Buy" and an average target price of $94.75.

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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