Robotti Robert Acquires Shares of 10,000 International Seaways Inc. $INSW

Robotti Robert bought a new position in International Seaways Inc. (NYSE:INSW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the transportation company’s stock, valued at approximately $766,000.

A number of other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of International Seaways by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 118 shares during the last quarter. GAMMA Investing LLC raised its position in International Seaways by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after purchasing an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after purchasing an additional 200 shares during the last quarter. ProShare Advisors LLC lifted its holdings in International Seaways by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after buying an additional 241 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after buying an additional 275 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INSW has been the subject of several research reports. BTIG Research lifted their target price on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Jefferies Financial Group upped their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $88.00.

International Seaways Stock Up 0.7%

INSW stock opened at $99.02 on Wednesday. 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 stock has a market capitalization of $4.90 billion, a P/E ratio of 6.33 and a beta of -0.13. International Seaways Inc. has a fifty-two week low of $41.42 and a fifty-two week high of $99.68. The business has a 50-day moving average of $87.98 and a 200-day moving average of $79.13.

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

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $5.05 per share. The ex-dividend date is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 20.4%. International Seaways’s dividend payout ratio is currently 3.07%.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways 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 directly owned 173,745 shares in the company, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the sale, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,000 shares of company stock valued at $441,240. 1.70% of the stock is owned by insiders.

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.