Marnell Management LLC Buys Shares of 123,827 International Seaways Inc. $INSW

Marnell Management LLC bought a new stake in International Seaways Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 123,827 shares of the transportation company’s stock, valued at approximately $6,012,000. International Seaways makes up about 2.9% of Marnell Management LLC’s investment portfolio, making the stock its 6th largest position.

Several other large investors have also recently bought and sold shares of INSW. First Horizon Corp increased its stake in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of International Seaways during the fourth quarter worth $44,000. Founders Capital Management increased its position in shares of International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of International Seaways during the third quarter worth $53,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of International Seaways by 601.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after acquiring an additional 1,293 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In related news, CEO Lois K. Zabrocky sold 25,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chief executive officer owned 181,745 shares in the company, valued at approximately $16,008,099.60. This represents a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $83.72, for a total transaction of $83,720.00. Following the transaction, the chief financial officer owned 102,984 shares of the company’s stock, valued at $8,621,820.48. The trade was a 0.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 42,530 shares of company stock worth $3,679,275. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on INSW shares. Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $83.50.

International Seaways Stock Performance

Shares of INSW opened at $82.08 on Monday. International Seaways Inc. has a 12 month low of $36.03 and a 12 month high of $92.66. The firm has a fifty day simple moving average of $80.65 and a 200 day simple moving average of $67.07. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 7.48 and a beta of -0.12. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 77.5% on a year-over-year basis. Research analysts forecast that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio is presently 4.37%.

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.