Inspire Investing LLC Takes Position in International Seaways Inc. $INSW

Inspire Investing LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,620 shares of the transportation company’s stock, valued at approximately $1,721,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its stake in International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after buying an additional 200 shares in the last quarter. ProShare Advisors LLC increased its stake in International Seaways by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after buying an additional 241 shares in the last quarter. Guggenheim Capital LLC increased its stake in International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after buying an additional 275 shares in the last quarter. Founders Capital Management raised its holdings 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 valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of International Seaways by 1.1% during the fourth quarter. Deutsche Bank AG now owns 31,168 shares of the transportation company’s stock valued at $1,513,000 after acquiring an additional 324 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Down 1.4%

Shares of INSW opened at $76.74 on Wednesday. International Seaways Inc. has a 52-week low of $36.21 and a 52-week high of $92.66. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $82.56 and a two-hundred day simple moving average of $69.70. The company has a market capitalization of $3.80 billion, a PE ratio of 6.99 and a beta of -0.12.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating 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 firm had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter in the previous year, the company posted $0.80 EPS. The company’s revenue was up 77.5% compared to the same quarter last year. As a group, equities analysts forecast that International Seaways Inc. will post 14.99 EPS for the current year.

International Seaways Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INSW shares. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Activity

In other news, SVP William F. Nugent sold 6,830 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the sale, the senior vice president owned 49,169 shares of the company’s stock, valued at $4,190,673.87. This represents a 12.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s 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 sale, the chief financial officer owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 45,530 shares of company stock valued at $3,923,635. Company insiders own 1.70% of the company’s stock.

International Seaways 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.