International Seaways Inc. $INSW Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in International Seaways Inc. (NYSE:INSW) by 19.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,588 shares of the transportation company’s stock after selling 18,452 shares during the period. Exchange Traded Concepts LLC’s holdings in International Seaways were worth $3,483,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its holdings in shares of International Seaways by 36.7% in the third quarter. Voya Investment Management LLC now owns 15,071 shares of the transportation company’s stock valued at $694,000 after purchasing an additional 4,048 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of International Seaways by 17.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,023 shares of the transportation company’s stock worth $185,000 after purchasing an additional 611 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of International Seaways by 59.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 44,474 shares of the transportation company’s stock worth $1,622,000 after purchasing an additional 16,554 shares during the last quarter. Osaic Holdings Inc. lifted its stake in International Seaways by 3.8% in the 2nd quarter. Osaic Holdings Inc. now owns 21,930 shares of the transportation company’s stock valued at $800,000 after buying an additional 809 shares in the last quarter. Finally, Marex Group plc purchased a new stake in International Seaways in the 2nd quarter valued at approximately $4,276,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $48.26, for a total transaction of $48,260.00. Following the sale, the chief financial officer owned 75,242 shares in the company, valued at $3,631,178.92. This trade represents a 1.31% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.12, for a total transaction of $88,240.00. Following the transaction, the chief executive officer directly owned 186,771 shares in the company, valued at approximately $8,240,336.52. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,500 shares of company stock valued at $1,698,825. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INSW. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Finally, Pareto Securities cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

International Seaways Stock Performance

NYSE:INSW opened at $48.01 on Friday. The firm’s fifty day simple moving average is $50.68 and its 200 day simple moving average is $45.42. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $55.18. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 10.94 and a beta of -0.20.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. The company had revenue of $84.82 million during the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. As a group, equities research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

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.