Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in International Seaways Inc. $INSW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of International Seaways Inc. (NYSE:INSW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 14,613 shares of the transportation company’s stock, valued at approximately $709,000.

Other large investors have also recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its holdings in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after purchasing an additional 216,325 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after buying an additional 192,848 shares in the last quarter. American Century Companies Inc. lifted its holdings in International Seaways by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after buying an additional 139,868 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in International Seaways by 105.2% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock valued at $9,864,000 after buying an additional 138,625 shares during the period. Finally, Marex Group plc purchased a new stake in International Seaways in the 2nd quarter valued at about $4,276,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Performance

INSW stock opened at $75.31 on Friday. International Seaways Inc. has a one year low of $27.20 and a one year high of $78.51. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 12.09 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. The firm has a 50-day simple moving average of $67.52 and a two-hundred day simple moving average of $56.19.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. The firm had revenue of $267.88 million for the quarter, compared to the consensus estimate of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The company’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, equities analysts forecast that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, March 20th. International Seaways’s payout ratio is currently 7.70%.

Insiders Place Their Bets

In other news, Director Randee E. Day sold 4,090 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $74.93, for a total value of $306,463.70. Following the completion of the sale, the director owned 18,435 shares of the company’s stock, valued at $1,381,334.55. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Derek G. Solon sold 6,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $75.41, for a total value of $452,460.00. Following the transaction, the senior vice president owned 50,989 shares in the company, valued at approximately $3,845,080.49. This trade represents a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 60,697 shares of company stock valued at $4,459,450. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on INSW. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Wall Street Zen lowered International Seaways from a “strong-buy” rating to a “buy” rating in a report on Sunday. BTIG Research increased their price objective on International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, International Seaways has an average rating of “Buy” and an average price target of $68.00.

About International Seaways

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.