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

Robotti Robert purchased a new position in International Seaways Inc. (NYSE:INSW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,000 shares of the transportation company’s stock, valued at approximately $766,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of International Seaways by 11.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after buying an additional 118 shares during the period. GAMMA Investing LLC increased its stake in International Seaways by 4.0% during the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock valued at $353,000 after acquiring an additional 178 shares during the period. Oregon Public Employees Retirement Fund increased its stake in International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after acquiring an additional 200 shares during the period. ProShare Advisors LLC raised its holdings in International Seaways by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after acquiring an additional 241 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in International Seaways by 1.4% in the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after acquiring an additional 275 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,000 shares of company stock worth $441,240 over the last three months. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on INSW shares. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. BTIG Research upped 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Jefferies Financial Group lifted their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One research 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 stock. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Buy” and an average price target of $88.00.

International Seaways Trading Up 0.7%

Shares of INSW stock opened at $99.02 on Wednesday. International Seaways Inc. has a 12-month low of $41.42 and a 12-month high of $99.68. The company has a market capitalization of $4.90 billion, a P/E ratio of 6.33 and a beta of -0.13. The firm has a 50-day moving average price of $87.98 and a 200 day moving average price of $79.13. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company’s quarterly revenue was up 138.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. Research analysts forecast 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. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 20.4%. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is presently 3.07%.

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.