International Seaways Inc. $INSW Stock Sold by Hosking Partners LLP

Hosking Partners LLP reduced its position in shares of International Seaways Inc. (NYSE:INSW) by 26.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 447,206 shares of the transportation company’s stock after selling 161,363 shares during the period. International Seaways comprises about 1.7% of Hosking Partners LLP’s holdings, making the stock its 17th largest position. Hosking Partners LLP’s holdings in International Seaways were worth $49,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC purchased a new position in International Seaways in the third quarter valued at $214,000. Pinnacle Associates Ltd. purchased a new stake in International Seaways during the 3rd quarter worth about $279,000. Nisa Investment Advisors LLC lifted its holdings in International Seaways by 5.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,962 shares of the transportation company’s stock worth $1,868,000 after buying an additional 852 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in International Seaways by 115.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 47,373 shares of the transportation company’s stock worth $5,218,000 after buying an additional 25,369 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its position in shares of International Seaways by 10.4% during the 3rd quarter. CWA Asset Management Group LLC now owns 28,383 shares of the transportation company’s stock worth $3,126,000 after acquiring an additional 2,685 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

INSW has been the topic of a number of recent analyst reports. B. Riley Financial increased their price objective on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 5th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. BTIG Research raised their target price on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 target price on shares of International Seaways in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, International Seaways presently has an average rating of “Buy” and an average target price of $109.80.

International Seaways Trading Up 6.4%

Shares of International Seaways stock opened at $111.44 on Thursday. The company has a fifty day simple moving average of $106.68 and a 200-day simple moving average of $91.93. International Seaways Inc. has a 12-month low of $44.84 and a 12-month high of $126.27. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 0.28 and a beta of -0.14.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. During the same period last year, the firm posted $1.02 EPS. The company’s revenue was up 138.9% on a year-over-year basis. On average, equities analysts forecast that International Seaways Inc. will post 17.47 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a yield of 18.1%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, September 10th. International Seaways’s dividend payout ratio is presently 129.16%.

Insider Buying and Selling at International Seaways

In other news, major shareholder Finance Ltd Famatown sold 102,000 shares of International Seaways stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $111.82, for a total transaction of $11,405,640.00. Following the sale, the insider owned 6,932,458 shares in the company, valued at approximately $775,187,453.56. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $114.23, for a total value of $228,460.00. Following the sale, the chief executive officer owned 169,745 shares in the company, valued at $19,389,971.35. This trade represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 451,290 shares of company stock valued at $51,351,266 in the last 90 days. 1.70% of the stock is currently owned by insiders.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.