State of Wyoming Invests $535,000 in International Seaways Inc. $INSW

State of Wyoming purchased a new position in International Seaways Inc. (NYSE:INSW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,986 shares of the transportation company’s stock, valued at approximately $535,000.

Several other institutional investors also recently bought and sold shares of INSW. First Horizon Corp lifted its position in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of International Seaways during the fourth quarter valued at $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways during the fourth quarter valued at $46,000. Rockefeller Capital Management L.P. increased its holdings in International Seaways by 583.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in International Seaways in the 3rd quarter worth about $53,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the transaction, the chief executive officer directly owned 177,745 shares in the company, valued at approximately $14,457,778.30. The trade was a 1.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. BTIG Research boosted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group raised their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One investment 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 stock. According to MarketBeat.com, International Seaways presently has an average rating of “Buy” and a consensus target price of $88.00.

International Seaways Stock Performance

INSW opened at $97.97 on Tuesday. The company’s 50 day moving average is $87.63 and its 200 day moving average is $78.85. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 6.26 and a beta of -0.13. International Seaways Inc. has a 12-month low of $41.25 and a 12-month high of $99.43.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. During the same period last year, the firm earned $1.02 earnings per share. The company’s quarterly revenue was up 138.9% on a year-over-year basis. On average, equities research analysts predict that International Seaways Inc. will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $5.05 per share. This represents a $20.20 annualized dividend and a yield of 20.6%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways’s dividend payout ratio (DPR) is presently 3.07%.

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.