Swiss National Bank lifted its stake in shares of International Seaways Inc (NYSE:INSW) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,300 shares of the transportation company’s stock after purchasing an additional 1,200 shares during the period. Swiss National Bank owned 0.13% of International Seaways worth $1,170,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bailard Inc. purchased a new stake in shares of International Seaways in the fourth quarter valued at about $205,000. California Public Employees Retirement System acquired a new position in International Seaways in the 3rd quarter valued at about $250,000. Russell Investments Group Ltd. grew its stake in shares of International Seaways by 62.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 27,198 shares of the transportation company’s stock valued at $524,000 after buying an additional 10,500 shares during the period. Rhumbline Advisers raised its position in shares of International Seaways by 9.9% during the 3rd quarter. Rhumbline Advisers now owns 37,833 shares of the transportation company’s stock valued at $729,000 after buying an additional 3,423 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in International Seaways by 1.2% in the third quarter. California State Teachers Retirement System now owns 39,294 shares of the transportation company’s stock valued at $757,000 after acquiring an additional 469 shares during the last quarter. Institutional investors and hedge funds own 77.81% of the company’s stock.
In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.80, for a total transaction of $29,800.00. Following the transaction, the chief financial officer now owns 23,874 shares of the company’s stock, valued at approximately $711,445.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.
Several research analysts recently weighed in on INSW shares. Zacks Investment Research lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Friday. B. Riley raised International Seaways from a “neutral” rating to a “buy” rating and set a $32.50 price target on the stock in a research note on Wednesday, March 4th. ValuEngine lowered International Seaways from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on International Seaways from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. International Seaways presently has a consensus rating of “Hold” and a consensus target price of $31.63.
Shares of International Seaways stock traded up $0.86 on Monday, reaching $20.33. The company had a trading volume of 36,795 shares, compared to its average volume of 384,215. The firm’s 50 day moving average price is $21.94 and its two-hundred day moving average price is $23.58. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.57 and a current ratio of 1.64. International Seaways Inc has a 52-week low of $15.15 and a 52-week high of $31.39. The firm has a market cap of $536.15 million, a PE ratio of -513.00 and a beta of 0.57.
International Seaways (NYSE:INSW) last posted its earnings results on Tuesday, March 3rd. The transportation company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.13. International Seaways had a negative net margin of 0.23% and a positive return on equity of 2.23%. The firm had revenue of $124.02 million during the quarter, compared to the consensus estimate of $124.35 million. As a group, sell-side analysts predict that International Seaways Inc will post 3.95 EPS for the current year.
The company also recently disclosed a — dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, March 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, March 16th.
International Seaways Company Profile
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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