Robeco Institutional Asset Management B.V. Buys 25,369 Shares of International Seaways Inc. $INSW

Key Points

• Robeco Institutional Asset Management more than doubled its International Seaways stake in the third quarter, adding 25,369 shares to own 47,373 shares valued at approximately $5.2 million. Institutional investors and hedge funds collectively own 67.29% of the company.
• Analysts remain broadly positive, with one Strong Buy, six Buy and one Hold rating, producing an average “Buy” rating and a consensus price target of $109.80. Recent brokerages raised their targets as high as $140.
• International Seaways reported strong quarterly results, beating EPS and revenue estimates, while its quarterly dividend increased to $5.05 per share, implying an 18.2% yield. However, insiders have sold 451,290 shares worth about $51.4 million over the past 90 days.

Robeco Institutional Asset Management B.V. lifted its stake in International Seaways Inc. (NYSE:INSW - Free Report) by 115.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,373 shares of the transportation company's stock after purchasing an additional 25,369 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.10% of International Seaways worth $5,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 118 shares in the last quarter. Allworth Financial LP boosted its stake in shares of International Seaways by 23.4% in the 2nd quarter. Allworth Financial LP now owns 623 shares of the transportation company's stock valued at $48,000 after buying an additional 118 shares during the period. GAMMA Investing LLC boosted its stake in shares of International Seaways by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company's stock valued at $353,000 after buying an additional 178 shares during the period. Mather Group LLC. boosted its stake in shares of International Seaways by 100.0% in the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company's stock valued at $44,000 after buying an additional 200 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of International Seaways by 16.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company's stock worth $151,000 after buying an additional 292 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In other International Seaways news, major shareholder Finance Ltd Famatown sold 61,216 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $117.08, for a total value of $7,167,169.28. Following the transaction, the insider directly owned 6,704,504 shares in the company, valued at $784,963,328.32. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company's 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 transaction, the chief executive officer owned 169,745 shares of the company's stock, valued at approximately $19,389,971.35. The trade was 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 company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INSW. Wall Street Zen downgraded International Seaways from a "strong-buy" rating to a "buy" rating in a research report on Saturday. BTIG Research raised their target price on shares of International Seaways from $100.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 18th. B. Riley Financial lifted their price target on shares of International Seaways from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group boosted their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. One equities research 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $109.80.

International Seaways Stock Up 2.3%

International Seaways stock opened at $110.93 on Friday. International Seaways Inc. has a 1-year low of $46.09 and a 1-year high of $126.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The stock 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 stock's fifty day moving average is $107.22 and its two-hundred day moving average is $92.29.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (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 return on equity of 31.75% and a net margin of 61.98%. International Seaways's revenue for the quarter was up 138.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. On average, sell-side analysts expect that International Seaways Inc. will post 17.47 EPS for the current fiscal 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 paid a dividend of $5.05 per share. The ex-dividend date was Thursday, September 10th. This is a positive change from International Seaways's previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 18.2%. International Seaways's dividend payout ratio (DPR) is presently 129.16%.

International Seaways Company 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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