International Seaways Inc. $INSW Stock Holdings Decreased by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in International Seaways Inc. (NYSE:INSW) by 48.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,341 shares of the transportation company’s stock after selling 14,698 shares during the quarter. SG Americas Securities LLC’s holdings in International Seaways were worth $707,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in INSW. Pacer Advisors Inc. grew its holdings in shares of International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after acquiring an additional 192,848 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of International Seaways during the second quarter worth $273,000. Creative Planning boosted 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 valued at $1,130,000 after purchasing an additional 22,628 shares during the last quarter. Marex Group plc purchased a new position in International Seaways in the second quarter valued at about $4,276,000. Finally, Denali Advisors LLC grew its stake in International Seaways by 61.9% in the second quarter. Denali Advisors LLC now owns 25,100 shares of the transportation company’s stock valued at $916,000 after purchasing an additional 9,600 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSW. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

International Seaways Trading Up 3.1%

NYSE:INSW opened at $58.00 on Thursday. The company’s 50 day moving average is $51.68 and its 200-day moving average is $47.32. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $58.25. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 13.21 and a beta of -0.18.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.24. The business had revenue of $196.39 million for the quarter, compared to analyst estimates of $180.92 million. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. International Seaways’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the business posted $1.57 EPS. Equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, December 9th. This represents a $0.48 annualized dividend and a yield of 0.8%. International Seaways’s dividend payout ratio is presently 10.93%.

Insiders Place Their Bets

In related news, CAO James D. Small III sold 20,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the transaction, the chief accounting officer owned 49,292 shares of the company’s stock, valued at approximately $2,642,051.20. The trade was a 28.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 3,500 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the transaction, the senior vice president owned 49,393 shares of the company’s stock, valued at approximately $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,500 shares of company stock worth $1,732,605. Corporate insiders own 2.00% of the company’s stock.

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.