International Seaways Inc. $INSW Shares Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. increased its stake in shares of International Seaways Inc. (NYSE:INSW) by 116.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,355 shares of the transportation company’s stock after purchasing an additional 26,601 shares during the quarter. Navellier & Associates Inc.’s holdings in International Seaways were worth $3,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INSW. Charles Schwab Investment Management Inc. raised its position in International Seaways by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after purchasing an additional 12,188 shares in the last quarter. Resolute Capital LLC bought a new position in shares of International Seaways during the 4th quarter worth $1,273,000. NewEdge Wealth LLC grew its position in shares of International Seaways by 43.1% during the 1st quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock worth $1,818,000 after buying an additional 7,511 shares in the last quarter. Cercano Management LLC purchased a new position in shares of International Seaways during the fourth quarter valued at $4,137,000. Finally, Energy Income Partners LLC purchased a new position in shares of International Seaways during the second quarter valued at $4,161,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Down 0.3%

NYSE:INSW opened at $98.92 on Friday. The company’s 50-day simple moving average is $90.54 and its 200-day simple moving average is $81.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $102.36. The stock has a market capitalization of $4.90 billion, a P/E ratio of 6.32 and a beta of -0.13.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 EPS 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 firm had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. During the same quarter in the previous year, the business posted $1.02 EPS. International Seaways’s revenue was up 138.9% on a year-over-year basis. On average, equities analysts anticipate that International Seaways Inc. will post 15.89 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $5.05 dividend. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 20.4%. The ex-dividend date of this dividend is Thursday, September 10th. International Seaways’s dividend payout ratio is presently 3.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INSW. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Jefferies Financial Group raised their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. BTIG Research boosted their price target 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. Finally, Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the sale, the chief executive officer owned 173,745 shares of the company’s stock, valued at approximately $17,103,457.80. This represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,000 shares of company stock worth $441,240. Insiders own 1.70% of the company’s stock.

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.