Deutsche Bank AG Purchases New Shares in International Seaways Inc. $INSW

Deutsche Bank AG purchased a new position in shares of International Seaways Inc. (NYSE:INSW) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 43,191 shares of the transportation company’s stock, valued at approximately $3,308,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its position in International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after acquiring an additional 380,931 shares in the last quarter. Amundi bought a new stake in shares of International Seaways during the fourth quarter valued at approximately $13,663,000. Bank of New York Mellon Corp bought a new stake in shares of International Seaways during the second quarter valued at approximately $21,082,000. Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of International Seaways in the first quarter valued at approximately $13,145,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of International Seaways in the fourth quarter valued at approximately $7,087,000. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INSW. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group boosted their target price on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, BTIG Research raised their price target on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Transactions at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. This trade represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,000 shares of company stock worth $441,240. Company insiders own 1.70% of the company’s stock.

International Seaways Price Performance

INSW opened at $93.50 on Thursday. The company has a fifty day moving average price of $89.95 and a two-hundred day moving average price of $80.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways Inc. has a 52 week low of $42.26 and a 52 week high of $102.36. The firm has a market capitalization of $4.63 billion, a PE ratio of 5.98 and a beta of -0.13.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. During the same quarter in the prior year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 138.9% on a year-over-year basis. As a group, analysts anticipate that International Seaways Inc. will post 15.89 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $5.05 per share. This represents a $20.20 dividend on an annualized basis and a yield of 21.6%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways’s dividend payout ratio (DPR) is 3.07%.

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.