International Seaways Inc. $INSW Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of International Seaways Inc. (NYSE:INSW) by 79.2% in the first quarter, Holdings Channel reports. The firm owned 7,131 shares of the transportation company’s stock after selling 27,145 shares during the period. SG Americas Securities LLC’s holdings in International Seaways were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Corp raised its holdings in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares during the period. Leonteq Securities AG purchased a new stake in International Seaways during the fourth quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in International Seaways during the fourth quarter worth approximately $46,000. Rockefeller Capital Management L.P. increased its position in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after acquiring an additional 822 shares in the last quarter. Finally, Founders Capital Management increased its position in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

INSW has been the topic of several recent research reports. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. BTIG Research boosted their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

International Seaways Trading Up 3.6%

NYSE INSW opened at $88.26 on Thursday. The stock has a market cap of $4.37 billion, a P/E ratio of 8.04 and a beta of -0.12. The company’s fifty day simple moving average is $83.25 and its 200-day simple moving average is $71.18. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 52 week low of $37.72 and a 52 week high of $92.66.

International Seaways (NYSE:INSW) last released 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 net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. During the same period last year, the business earned $0.80 EPS. The business’s revenue was up 77.5% on a year-over-year basis. Equities research analysts predict that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced 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 was Friday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. International Seaways’s dividend payout ratio (DPR) is currently 4.37%.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 6,830 shares of the firm’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 transaction of $582,120.90. Following the completion of the sale, the senior vice president owned 49,169 shares in the company, valued at $4,190,673.87. This trade represents a 12.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Derek G. Solon sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the transaction, the senior vice president directly owned 49,719 shares in the company, valued at approximately $4,435,929.18. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,530 shares of company stock valued at $3,923,635 over the last ninety days. Insiders own 1.70% of the company’s stock.

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.