International Seaways Inc. $INSW Stock Position Increased by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lifted its position in International Seaways Inc. (NYSE:INSW) by 7.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 414,688 shares of the transportation company’s stock after buying an additional 27,818 shares during the period. Bridgeway Capital Management LLC owned approximately 0.84% of International Seaways worth $20,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Corp raised its stake in shares of International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of International Seaways in the 4th quarter worth $44,000. Founders Capital Management grew 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 worth $53,000 after acquiring an additional 300 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of International Seaways in the 3rd quarter worth $53,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of International Seaways in the 3rd quarter worth $64,000. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the topic of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $100.00 target price on shares of International Seaways in a report on Friday, May 8th. BTIG Research lifted their target price on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, International Seaways currently has an average rating of “Buy” and an average price target of $83.50.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 6,830 shares of International Seaways stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total transaction of $582,120.90. Following the transaction, the senior vice president owned 49,169 shares in the company, valued at approximately $4,190,673.87. The trade was a 12.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 25,000 shares of International Seaways stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the transaction, the chief executive officer owned 181,745 shares in the company, valued at $16,008,099.60. This represents a 12.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,530 shares of company stock worth $3,923,635. 1.70% of the stock is owned by corporate insiders.

International Seaways Stock Performance

Shares of INSW stock opened at $81.51 on Thursday. International Seaways Inc. has a 1-year low of $36.03 and a 1-year high of $92.66. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.42 and a beta of -0.12. The stock’s fifty day simple moving average is $81.02 and its 200-day simple moving average is $67.67.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. International Seaways’s revenue for the quarter was up 77.5% compared to the same quarter last year. On average, sell-side analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. International Seaways’s payout ratio is currently 4.37%.

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.