Dimensional Fund Advisors LP grew its stake in International Seaways Inc. (NYSE:INSW – Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,024,755 shares of the transportation company’s stock after purchasing an additional 52,743 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of International Seaways worth $220,436,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in INSW. Amundi acquired a new position in shares of International Seaways during the fourth quarter worth $13,663,000. Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of International Seaways during the 1st quarter valued at $13,145,000. Tudor Investment Corp ET AL acquired a new stake in shares of International Seaways during the 4th quarter valued at $7,087,000. Frontier Capital Management Co. LLC grew its position in International Seaways by 105.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after acquiring an additional 138,625 shares during the last quarter. Finally, Fearnley Asset Management AS bought a new stake in International Seaways during the 4th quarter worth $6,258,000. 67.29% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on INSW shares. BTIG Research increased their target price on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.
International Seaways Stock Up 2.9%
Shares of NYSE:INSW opened at $91.48 on Friday. The firm has a market cap of $4.53 billion, a P/E ratio of 8.33 and a beta of -0.12. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12-month low of $39.06 and a 12-month high of $92.66. The business has a fifty day simple moving average of $83.60 and a 200 day simple moving average of $74.25.
International Seaways (NYSE:INSW – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. Analysts predict that International Seaways Inc. will post 15.62 earnings per share for the current year.
International Seaways Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.12 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.5%. International Seaways’s dividend payout ratio is presently 4.37%.
Insider Buying and Selling
In other International Seaways news, SVP William F. Nugent sold 6,830 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the sale, the senior vice president owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.34, for a total transaction of $162,680.00. Following the transaction, the chief executive officer owned 177,745 shares of the company’s stock, valued at approximately $14,457,778.30. The trade was a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 42,530 shares of company stock valued at $3,699,995. Insiders own 1.70% of the company’s stock.
International Seaways Profile
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.
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