6,621 Shares in International Seaways Inc. $INSW Purchased by Two Sigma Securities LLC

Two Sigma Securities LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,621 shares of the transportation company’s stock, valued at approximately $507,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $28,000. Allworth Financial LP acquired a new stake in International Seaways in the 2nd quarter valued at $48,000. Public Employees Retirement System of Ohio bought a new stake in International Seaways in the second quarter valued at $66,000. Leonteq Securities AG acquired a new position in International Seaways during the fourth quarter worth $44,000. Finally, Compass Financial Management LLC bought a new position in shares of International Seaways during the second quarter valued at $86,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

International Seaways Trading Up 1.5%

INSW opened at $101.26 on Thursday. International Seaways Inc. has a 1-year low of $42.26 and a 1-year high of $102.36. The stock has a market capitalization of $5.02 billion, a PE ratio of 6.47 and a beta of -0.13. 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 firm has a 50-day moving average price of $91.21 and a two-hundred day moving average price of $82.10.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.36. The business had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The firm’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. As a group, equities analysts anticipate that International Seaways Inc. will post 16.09 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $5.05 per share. This represents a $20.20 dividend on an annualized basis and a yield of 19.9%. The ex-dividend date is Thursday, September 10th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is currently 3.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INSW. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. BTIG Research boosted their price target on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.00 price objective on shares of International Seaways in a research note on Tuesday. Finally, Jefferies Financial Group lifted their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

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.