CSM Advisors LLC Sells 19,354 Shares of International Seaways Inc. $INSW

CSM Advisors LLC lessened its stake in International Seaways Inc. (NYSE:INSW) by 18.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,050 shares of the transportation company’s stock after selling 19,354 shares during the quarter. CSM Advisors LLC’s holdings in International Seaways were worth $4,012,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of INSW. Royal Bank of Canada increased its position in International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after buying an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after buying an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after acquiring an additional 18,509 shares during the period. Bank of New York Mellon Corp grew its stake in shares of International Seaways by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 319,280 shares of the transportation company’s stock worth $11,647,000 after acquiring an additional 4,902 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in International Seaways by 25.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,838 shares of the transportation company’s stock worth $140,000 after acquiring an additional 767 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Trading Down 1.3%

Shares of INSW stock opened at $65.89 on Monday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $62.62 and a two-hundred day moving average price of $53.68. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $78.51. The firm has a market cap of $3.25 billion, a P/E ratio of 10.58 and a beta of -0.23.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million for the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company’s revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.7%. International Seaways’s dividend payout ratio is currently 7.70%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the transaction, the chief accounting officer directly owned 36,376 shares of the company’s stock, valued at approximately $2,741,659.12. This trade represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 9,583 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $76.00, for a total transaction of $728,308.00. Following the completion of the sale, the senior vice president owned 52,572 shares of the company’s stock, valued at approximately $3,995,472. The trade was a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 57,697 shares of company stock valued at $4,257,370. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INSW. BTIG Research boosted their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Finally, Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.00.

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.