International Seaways Inc. $INSW Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in International Seaways Inc. (NYSE:INSW) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,290,052 shares of the transportation company’s stock after selling 63,989 shares during the period. Vanguard Group Inc. owned approximately 0.09% of International Seaways worth $208,282,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INSW. Arizona State Retirement System increased its stake in shares of International Seaways by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after acquiring an additional 206 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of International Seaways by 2.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 274 shares during the last quarter. Founders Capital Management increased its stake in shares of International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of International Seaways by 8.6% during the 4th quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock valued at $212,000 after acquiring an additional 344 shares during the last quarter. Finally, First Horizon Corp increased its stake in shares of International Seaways by 121.6% during 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 during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $74.88, for a total transaction of $374,400.00. Following the completion of the sale, the director owned 10,213 shares of the company’s stock, valued at approximately $764,749.44. This trade represents a 32.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randee E. Day sold 4,090 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.93, for a total transaction of $306,463.70. Following the sale, the director directly owned 18,435 shares of the company’s stock, valued at $1,381,334.55. The trade was a 18.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 60,697 shares of company stock valued at $4,517,070. 2.00% of the stock is currently owned by insiders.

International Seaways Stock Up 1.4%

Shares of NYSE:INSW opened at $91.47 on Friday. The company has a quick ratio of 3.71, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 52-week low of $35.60 and a 52-week high of $92.66. The company has a 50 day moving average of $74.69 and a two-hundred day moving average of $61.28. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 8.33 and a beta of -0.09.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. The company had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company’s revenue was up 77.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. As a group, analysts forecast that International Seaways Inc. will post 13.6 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date is 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 7.70%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INSW shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BTIG Research upped their price objective on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, January 20th. Five equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

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.