Cim LLC Takes $541,000 Position in International Seaways Inc. $INSW

Cim LLC bought a new stake in shares of International Seaways Inc. (NYSE:INSWFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,427 shares of the transportation company’s stock, valued at approximately $541,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Corp grew its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares during the period. Leonteq Securities AG bought a new position in International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new position in International Seaways during the fourth quarter worth $46,000. Rockefeller Capital Management L.P. boosted its stake in International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after acquiring an additional 822 shares in the last quarter. Finally, Founders Capital Management grew its holdings in International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after purchasing an additional 300 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on INSW. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research note on Friday, May 8th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, BTIG Research upped their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $86.00.

Read Our Latest Stock Analysis on International Seaways

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the transaction, the chief executive officer owned 177,745 shares of the company’s stock, valued at $14,457,778.30. This trade represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 42,530 shares of company stock worth $3,699,995. 1.70% of the stock is currently owned by insiders.

International Seaways Stock Performance

NYSE INSW opened at $94.31 on Thursday. The company has a market cap of $4.67 billion, a P/E ratio of 8.59 and a beta of -0.12. The company has a fifty day simple moving average of $84.22 and a 200 day simple moving average of $75.43. The company has a current ratio of 7.34, a quick ratio of 7.28 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 $95.65.

International Seaways (NYSE:INSWGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $2.87 by $1.03. The firm had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. Sell-side analysts predict that International Seaways Inc. will post 15.62 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

International Seaways Profile

(Free Report)

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.

See Also

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

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