International Seaways (NYSE:INSW) Major Shareholder Finance Ltd Famatown Sells 100,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) major shareholder Finance Ltd Famatown sold 100,000 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $121.55, for a total transaction of $12,155,000.00. Following the transaction, the insider owned 6,604,304 shares in the company, valued at approximately $802,753,151.20. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Finance Ltd Famatown also recently made the following trade(s):

• On Wednesday, October 14th, Finance Ltd Famatown sold 64,821 shares of International Seaways stock. The stock was sold at an average price of $125.05, for a total transaction of $8,105,866.05.
• On Tuesday, October 13th, Finance Ltd Famatown sold 38,917 shares of International Seaways stock. The stock was sold at an average price of $122.06, for a total transaction of $4,750,209.02.
• On Thursday, October 8th, Finance Ltd Famatown sold 200 shares of International Seaways stock. The shares were sold at an average price of $118.50, for a total transaction of $23,700.00.
• On Wednesday, October 7th, Finance Ltd Famatown sold 61,216 shares of International Seaways stock. The shares were sold at an average price of $117.08, for a total transaction of $7,167,169.28.
• On Tuesday, October 6th, Finance Ltd Famatown sold 66,738 shares of International Seaways stock. The shares were sold at an average price of $117.03, for a total transaction of $7,810,348.14.
• On Monday, October 5th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $114.97, for a total value of $11,497,000.00.
• On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The stock was sold at an average price of $111.82, for a total value of $11,405,640.00.
• On Monday, September 21st, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $111.09, for a total value of $11,109,000.00.
• On Friday, September 18th, Finance Ltd Famatown sold 15,136 shares of International Seaways stock. The shares were sold at an average price of $112.12, for a total value of $1,697,048.32.

International Seaways Trading Up 0.3%

INSW stock traded up $0.38 during trading on Wednesday, reaching $111.79. 818,511 shares of the stock traded hands, compared to its average volume of 621,209. The firm has a market capitalization of $5.54 billion, a PE ratio of 7.15, a P/E/G ratio of 0.29 and a beta of -0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The business’s 50 day moving average price is $107.93 and its 200-day moving average price is $84.89. International Seaways Inc. has a 52-week low of $46.09 and a 52-week high of $126.27.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The company’s quarterly revenue was up 138.9% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. As a group, sell-side analysts forecast that International Seaways Inc. will post 17.47 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a dividend of $5.05 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a yield of 18.1%. International Seaways’s dividend payout ratio is currently 129.16%.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in International Seaways in the third quarter worth about $33,000. Quantbot Technologies LP bought a new stake in International Seaways in the second quarter valued at about $28,000. Mather Group LLC. increased its holdings in International Seaways by 100.0% in the third quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock valued at $44,000 after buying an additional 200 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new stake in International Seaways during the third quarter valued at approximately $56,000. Finally, Allworth Financial LP acquired a new stake in International Seaways during the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the topic of a number of recent research reports. B. Riley Financial lifted their price target on shares of International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 5th. 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 note on Thursday, August 13th. Wall Street Zen lowered shares of International Seaways from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $109.80.

About International Seaways

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.