Private Advisory Group LLC Purchases Shares of 11,340 International Seaways Inc. $INSW

Key Points

• Private Advisory Group LLC initiated a position in International Seaways by purchasing 11,340 shares valued at approximately $869,000. Institutional investors collectively own 67.29% of the company.
• International Seaways reported strong quarterly results, with EPS of $5.91 exceeding estimates and revenue rising 138.9% year over year to $467.29 million.
• The company increased its quarterly dividend to $5.05, implying a $20.20 annualized payout and a 20.8% yield. Analysts maintain a consensus “Buy” rating, though the average price target of $88 is below the recent share price of $96.91.

Private Advisory Group LLC purchased a new position in International Seaways Inc. (NYSE:INSW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,340 shares of the transportation company's stock, valued at approximately $869,000.

Several other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of International Seaways by 11.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company's stock valued at $85,000 after acquiring an additional 118 shares during the period. GAMMA Investing LLC increased its holdings in International Seaways by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company's stock worth $353,000 after acquiring an additional 178 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in International Seaways by 2.2% during the 4th 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 stake in International Seaways by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock worth $380,000 after acquiring an additional 241 shares during the period. Finally, Guggenheim Capital LLC raised its stake in International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company's stock worth $959,000 after acquiring an additional 275 shares during the period. Institutional investors own 67.29% of the company's stock.

International Seaways Stock Up 1.9%

Shares of INSW opened at $96.91 on Friday. The business's 50 day moving average is $87.30 and its 200 day moving average is $78.41. The company has a market capitalization of $4.80 billion, a PE ratio of 6.20 and a beta of -0.13. International Seaways Inc. has a 12-month low of $41.25 and a 12-month high of $98.23. The company has a current ratio of 5.94, a quick ratio of 7.28 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly 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. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company had revenue of $467.29 million for the quarter, compared to analysts' expectations of $406.38 million. During the same period in the previous year, the firm earned $1.02 EPS. The firm's revenue was up 138.9% compared to the same quarter last year. Research analysts expect that International Seaways Inc. will post 15.89 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 20.8%. 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. International Seaways's payout ratio is presently 3.07%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INSW shares. 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 report on Wednesday, June 24th. Jefferies Financial Group raised their price objective on shares of International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings restated a "buy (b-)" rating on shares of International Seaways in a research note on Friday, August 7th. Zacks Research raised shares of International Seaways from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Finally, Pareto Securities downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $88.00.

Insider Buying and Selling at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.34, for a total transaction of $162,680.00. Following the completion of the transaction, the chief executive officer owned 177,745 shares in the company, valued at approximately $14,457,778.30. This represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 101,984 shares of the company's stock, valued at $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is currently owned by insiders.

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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