International Seaways Inc. $INSW Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in International Seaways Inc. (NYSE:INSW) by 14.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,458 shares of the transportation company’s stock after selling 19,484 shares during the quarter. Rhumbline Advisers’ holdings in International Seaways were worth $5,505,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of INSW. Arizona State Retirement System grew its stake in International Seaways by 1.7% in the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock worth $572,000 after purchasing an additional 206 shares in the last quarter. Evergreen Capital Management LLC raised its stake in International Seaways by 2.9% during the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after buying an additional 274 shares in the last quarter. Blue Trust Inc. lifted its holdings in International Seaways by 16.3% during the 3rd quarter. Blue Trust Inc. now owns 2,178 shares of the transportation company’s stock worth $100,000 after buying an additional 306 shares during the last quarter. Federated Hermes Inc. grew its position in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of International Seaways by 3.4% in the 3rd quarter. Amalgamated Bank now owns 11,956 shares of the transportation company’s stock valued at $551,000 after acquiring an additional 398 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

INSW stock opened at $67.08 on Tuesday. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $67.49. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.28 and a beta of -0.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s fifty day moving average is $55.92 and its two-hundred day moving average is $50.79.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INSW. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, January 20th. Finally, BTIG Research increased their price objective on shares of International Seaways from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total transaction of $127,920.00. Following the completion of the transaction, the chief executive officer directly owned 178,421 shares of the company’s stock, valued at $11,411,807.16. The trade was a 1.11% 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 the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00. Following the completion of the transaction, the chief financial officer owned 83,463 shares of the company’s stock, valued at approximately $5,282,373.27. This trade represents a 1.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,000 shares of company stock worth $502,610. 2.00% of the stock is currently owned by insiders.

International Seaways Company 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.