International Seaways Inc. $INSW Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in shares of International Seaways Inc. (NYSE:INSW) by 167.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 608,265 shares of the transportation company’s stock after buying an additional 380,931 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in International Seaways were worth $44,330,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after acquiring an additional 12,188 shares in the last quarter. Resolute Capital LLC purchased a new position in International Seaways during the fourth quarter worth about $1,273,000. NewEdge Wealth LLC raised its holdings in International Seaways by 43.1% during the first quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock worth $1,818,000 after purchasing an additional 7,511 shares in the last quarter. SG Americas Securities LLC lifted its position in International Seaways by 123.4% in the fourth quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock valued at $1,664,000 after purchasing an additional 18,935 shares during the period. Finally, Cercano Management LLC acquired a new stake in International Seaways in the fourth quarter valued at about $4,137,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 6,830 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the sale, the senior vice president owned 49,169 shares in the company, valued at $4,190,673.87. This represents a 12.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,530 shares of company stock worth $3,699,995 over the last quarter. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price target on shares of International Seaways in a report on Friday, May 8th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, BTIG Research upped their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.00.

International Seaways Stock Down 1.9%

Shares of NYSE INSW opened at $90.53 on Tuesday. 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 $39.06 and a 52 week high of $93.48. The firm has a 50-day moving average price of $83.86 and a 200 day moving average price of $74.87. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 8.24 and a beta of -0.12.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm 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 firm earned $0.80 earnings per share. The firm’s revenue was up 77.5% on a year-over-year basis. Equities research analysts anticipate that International Seaways Inc. will post 15.62 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. International Seaways’s payout ratio is 4.37%.

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.