7,591 Shares in International Seaways Inc. $INSW Bought by AXQ Capital LP

AXQ Capital LP bought a new position in shares of International Seaways Inc. (NYSE:INSW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,591 shares of the transportation company’s stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Corp grew its stake in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of International Seaways in the 4th quarter valued at about $44,000. Founders Capital Management increased its holdings in shares of International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of International Seaways during the 3rd quarter worth about $53,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Activity at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,700 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total transaction of $419,334.00. Following the transaction, the senior vice president directly owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the transaction, the chief executive officer directly owned 181,745 shares in the company, valued at $16,008,099.60. The trade was a 12.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,009 shares of company stock worth $4,591,888 in the last three months. Company insiders own 1.70% of the company’s stock.

International Seaways Stock Up 0.8%

Shares of NYSE INSW opened at $78.56 on Friday. The stock has a market cap of $3.89 billion, a PE ratio of 7.15 and a beta of -0.12. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 52-week low of $36.03 and a 52-week high of $92.66. The business has a 50-day moving average price of $79.38 and a 200 day moving average price of $65.89.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business’s revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Equities research analysts forecast that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INSW. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $83.50.

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.