International Seaways Inc. $INSW Shares Newly Bought by Vest Financial LLC

Vest Financial LLC purchased a new position in International Seaways Inc. (NYSE:INSW – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,035 shares of the transportation company’s stock, valued at approximately $2,207,000.

A number of other hedge funds have also made changes to their positions in INSW. Baird Financial Group Inc. grew its holdings in shares of International Seaways by 5.0% during the 2nd quarter. Baird Financial Group Inc. now owns 248,506 shares of the transportation company’s stock valued at $19,033,000 after acquiring an additional 11,835 shares in the last quarter. NewEdge Wealth LLC raised its holdings in shares of International Seaways by 43.1% during the first quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock worth $1,818,000 after acquiring an additional 7,511 shares in the last quarter. Man Group plc purchased a new stake in shares of International Seaways during the second quarter worth $867,000. Two Sigma Securities LLC purchased a new stake in shares of International Seaways during the second quarter worth $507,000. Finally, Energy Income Partners LLC acquired a new stake in International Seaways during the second quarter valued at $4,161,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Performance

INSW opened at $110.93 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market cap of $5.49 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.29 and a beta of -0.14. The stock has a 50-day moving average of $107.22 and a 200-day moving average of $92.29. International Seaways Inc. has a 52-week low of $46.09 and a 52-week high of $126.27.

International Seaways (NYSE:INSW – Get Free Report) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The firm had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company’s revenue was up 138.9% on a year-over-year basis. As a group, equities research analysts forecast that International Seaways Inc. will post 17.47 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a dividend of $5.05 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 18.2%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is currently 129.16%.

Analyst Ratings Changes

A number of research analysts have commented on INSW shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 target price on shares of International Seaways in a research note on Tuesday, September 1st. Weiss Ratings raised International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Jefferies Financial Group lifted their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded International Seaways from a “strong-buy” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $109.80.

Read Our Latest Analysis on INSW

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total transaction of $228,460.00. Following the completion of the transaction, the chief executive officer owned 169,745 shares of the company’s stock, valued at $19,389,971.35. The trade was a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Finance Ltd Famatown sold 102,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $111.82, for a total transaction of $11,405,640.00. Following the sale, the insider owned 6,932,458 shares of the company’s stock, valued at $775,187,453.56. This trade represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 451,290 shares of company stock worth $51,351,266 over the last quarter. 1.70% of the stock is currently owned by company insiders.

About International Seaways

(Free Report)

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.

See Also

Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.