CSM Advisors LLC Sells 19,354 Shares of International Seaways Inc. $INSW

CSM Advisors LLC trimmed its stake in International Seaways Inc. (NYSE:INSW) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,050 shares of the transportation company’s stock after selling 19,354 shares during the quarter. CSM Advisors LLC owned about 0.18% of International Seaways worth $4,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INSW. Federated Hermes Inc. boosted its position in shares of International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in International Seaways by 601.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after buying an additional 1,293 shares in the last quarter. Hantz Financial Services Inc. raised its stake in International Seaways by 450.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,541 shares of the transportation company’s stock worth $71,000 after buying an additional 1,261 shares during the period. Westfuller Advisors LLC acquired a new position in International Seaways during the 3rd quarter worth approximately $88,000. Finally, Quadrant Capital Group LLC bought a new position in International Seaways in the third quarter worth approximately $92,000. 67.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INSW has been the subject of a number of research reports. Wall Street Zen raised International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Benchmark restated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Finally, BTIG Research upped their price objective on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One investment 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, International Seaways currently has an average rating of “Buy” and a consensus target price of $68.00.

International Seaways Stock Performance

Shares of International Seaways stock opened at $65.89 on Monday. The company has a market cap of $3.25 billion, a PE ratio of 10.58 and a beta of -0.23. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $78.51. The business has a 50 day moving average price of $62.62 and a 200-day moving average price of $53.68. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27.

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

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be issued a dividend of $0.12 per share. 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 currently 7.70%.

Insider Activity

In other news, SVP William F. Nugent sold 9,583 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $76.00, for a total value of $728,308.00. Following the completion of the sale, the senior vice president owned 52,572 shares in the company, valued at $3,995,472. This represents a 15.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $75.41, for a total transaction of $452,460.00. Following the transaction, the senior vice president directly owned 50,989 shares in the company, valued at $3,845,080.49. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 57,697 shares of company stock worth $4,257,370. Company insiders own 2.00% of the company’s stock.

About International Seaways

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.