Vise Technologies Inc. Makes New $424,000 Investment in International Seaways Inc. $INSW

Vise Technologies Inc. acquired a new position in International Seaways Inc. (NYSE:INSW) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 5,536 shares of the transportation company’s stock, valued at approximately $424,000.

Other large investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in International Seaways in the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new position in International Seaways during the fourth quarter valued at approximately $46,000. Rockefeller Capital Management L.P. boosted its position in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares during the period. Advisory Services Network LLC bought a new position in shares of International Seaways in the third quarter worth approximately $53,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after purchasing an additional 1,293 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of analyst reports. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. BTIG Research increased their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Finally, Jefferies Financial Group upped their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $88.00.

International Seaways Stock Performance

INSW opened at $98.98 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 6.33 and a beta of -0.13. The company has a fifty day moving average of $89.71 and a 200 day moving average of $80.52. International Seaways Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $102.36.

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

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $5.05 per share. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a yield of 20.4%. International Seaways’s payout ratio is currently 3.07%.

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.