Navellier & Associates Inc. grew its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 116.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,355 shares of the transportation company's stock after purchasing an additional 26,601 shares during the period. Navellier & Associates Inc. owned approximately 0.10% of International Seaways worth $3,780,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company's stock valued at $85,000 after buying an additional 118 shares during the period. GAMMA Investing LLC grew its holdings in International Seaways by 4.0% during the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company's stock worth $353,000 after acquiring an additional 178 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company's stock worth $452,000 after acquiring an additional 200 shares during the period. ProShare Advisors LLC raised its position in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock worth $380,000 after acquiring an additional 241 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in 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 in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at International Seaways
In other International Seaways news, CEO Lois K. 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 value 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 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 accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,000 shares of company stock valued at $441,240 in the last ninety days. Corporate insiders own 1.70% of the company's stock.
International Seaways Stock Performance
NYSE INSW opened at $98.92 on Friday. International Seaways Inc. has a 1-year low of $42.26 and a 1-year high of $102.36. The company has a market capitalization of $4.90 billion, a P/E ratio of 6.32 and a beta of -0.13. The business has a 50 day moving average price of $90.54 and a 200 day moving average price of $81.16. 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 (NYSE:INSW - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.International Seaways's quarterly revenue was up 138.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. Sell-side analysts expect that International Seaways Inc. will post 15.89 EPS for the current fiscal year.
International Seaways Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $5.05 per share. This is a boost from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 20.4%. International Seaways's dividend payout ratio is presently 3.07%.
Analyst Upgrades and Downgrades
INSW has been the subject of a number of recent analyst reports. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. BTIG Research upped their price target 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. Jefferies Financial Group increased their price target on shares of International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Pareto Securities cut shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of International Seaways in a report on Friday, August 7th. 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 data from MarketBeat.com, International Seaways has an average rating of "Moderate Buy" and a consensus target price of $88.00.
Check Out Our Latest Stock Analysis on International Seaways
About International Seaways
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding INSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Seaways Inc. (NYSE:INSW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider International Seaways, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and International Seaways wasn't on the list.
While International Seaways currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
