International Seaways Inc. $INSW Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of International Seaways Inc. (NYSE:INSW) by 16.9% during the 3rd quarter, Holdings Channel reports. The firm owned 227,158 shares of the transportation company’s stock after selling 46,182 shares during the period. Victory Capital Management Inc.’s holdings in International Seaways were worth $10,467,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of International Seaways by 4,255.3% during the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after purchasing an additional 192,848 shares in the last quarter. Marex Group plc purchased a new stake in International Seaways in the 2nd quarter valued at approximately $4,276,000. Denali Advisors LLC boosted its position in International Seaways by 94.3% during the third quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock worth $2,248,000 after acquiring an additional 23,674 shares during the last quarter. Creative Planning increased its position in International Seaways by 270.9% during the second quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock worth $1,130,000 after purchasing an additional 22,628 shares during the last quarter. Finally, American Century Companies Inc. grew its position in International Seaways by 7.5% during the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after acquiring an additional 139,868 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways News Roundup

Here are the key news stories impacting International Seaways this week:

• Positive Sentiment: Earnings estimates are being revised up, which supports the company’s outlook and could underpin further upside if momentum continues. Earnings Estimates Moving Higher for INSW
• Positive Sentiment: Major dealers raised targets and ratings recently (Deutsche Bank boosted its price target to $80 and other firms upgraded/raised targets), providing analyst support for the stock. Deutsche Bank Increases INSW Price Target
• Positive Sentiment: Institutional buying and larger hedge?fund positions have increased over recent quarters, which can stabilize shares and provide longer?term demand. MarketBeat INSW Summary
• Neutral Sentiment: The company declared a small quarterly dividend ($0.12 per share, annualized $0.48), a limited yield that’s unlikely to materially move the stock but adds a modest cash return. Dividend & Company Details
• Negative Sentiment: Several insiders and directors sold meaningful stakes this week (including sales by Director Alexandra Blankenship and Director Randee E. Day), which often signals management profit?taking and can pressure the stock short term. Blankenship Form 4 Day Form 4
• Negative Sentiment: Treasurer Debra Grillo sold 389 shares (disclosed in a Form 4), a smaller but visible insider reduction that reinforces the near?term selling narrative. InsiderTrades: Grillo Sale

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research boosted their price target on International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Benchmark reiterated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $68.00.

International Seaways Stock Down 4.1%

NYSE INSW opened at $70.35 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The firm has a market cap of $3.48 billion, a PE ratio of 11.29 and a beta of -0.23. The stock’s 50 day simple moving average is $61.88 and its 200 day simple moving average is $53.31. International Seaways Inc. has a one year low of $27.20 and a one year high of $78.51.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, sell-side analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways’s payout ratio is presently 7.70%.

Insider Buying and Selling

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.88, for a total transaction of $374,400.00. Following the completion of the sale, the director directly owned 10,213 shares of the company’s stock, valued at approximately $764,749.44. This represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Debra Grillo sold 389 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $76.27, for a total transaction of $29,669.03. Following the sale, the treasurer owned 1,185 shares in the company, valued at $90,379.95. This trade represents a 24.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 60,697 shares of company stock valued at $4,402,750. 2.00% of the stock is owned by company 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.