OMERS ADMINISTRATION Corp Invests $2.11 Million in International Seaways Inc. $INSW

OMERS ADMINISTRATION Corp purchased a new stake in shares of International Seaways Inc. (NYSE:INSW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,600 shares of the transportation company’s stock, valued at approximately $2,114,000. OMERS ADMINISTRATION Corp owned about 0.06% of International Seaways at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of INSW. Quantbot Technologies LP purchased a new position in International Seaways during the second quarter worth about $28,000. Leonteq Securities AG purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $46,000. Rockefeller Capital Management L.P. increased its holdings in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of International Seaways during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated 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 owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the transaction, the chief executive officer owned 173,745 shares of the company’s stock, valued at $17,103,457.80. This trade represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,000 shares of company stock valued at $441,240 over the last ninety days. Insiders own 1.70% of the company’s stock.

International Seaways Stock Performance

Shares of INSW stock opened at $93.50 on Thursday. 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 firm has a market cap of $4.63 billion, a P/E ratio of 5.98 and a beta of -0.13. The firm’s 50 day moving average price is $89.95 and its 200-day moving average price is $80.76. International Seaways Inc. has a one year low of $42.26 and a one year high of $102.36.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.36. The firm 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 firm’s revenue for the quarter was up 138.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. As a group, equities research analysts predict that International Seaways Inc. will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a dividend yield of 21.6%. International Seaways’s payout ratio is presently 3.07%.

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.