VIRGINIA RETIREMENT SYSTEMS ET Al Takes $335,000 Position in International Seaways Inc. $INSW

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of International Seaways Inc. (NYSE:INSW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,900 shares of the transportation company’s stock, valued at approximately $335,000.

A number of other large investors also recently added to or reduced their stakes in INSW. Dimensional Fund Advisors LP lifted its stake in International Seaways by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,903,764 shares of the transportation company’s stock worth $133,807,000 after purchasing an additional 42,051 shares during the last quarter. American Century Companies Inc. lifted its stake in International Seaways by 7.5% in the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after purchasing an additional 139,868 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in International Seaways by 1.1% in the third quarter. Bridgeway Capital Management LLC now owns 386,870 shares of the transportation company’s stock worth $17,827,000 after purchasing an additional 4,378 shares during the last quarter. AQR Capital Management LLC lifted its stake in International Seaways by 46.4% in the second quarter. AQR Capital Management LLC now owns 306,160 shares of the transportation company’s stock worth $11,169,000 after purchasing an additional 97,081 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in International Seaways by 105.2% in the second quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after purchasing an additional 138,625 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $74.88, for a total value of $374,400.00. Following the transaction, the director owned 10,213 shares in the company, valued at approximately $764,749.44. The trade was a 32.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 9,583 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $76.00, for a total transaction of $728,308.00. Following the transaction, the senior vice president owned 52,572 shares in the company, valued at $3,995,472. This represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 97,227 shares of company stock valued at $7,781,495. Company insiders own 1.70% of the company’s stock.

International Seaways Price Performance

INSW stock opened at $85.40 on Tuesday. The firm’s 50-day moving average price is $76.55 and its two-hundred day moving average price is $63.22. International Seaways Inc. has a 12-month low of $35.60 and a 12-month high of $92.66. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09. 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 released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earned $0.80 earnings per share. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, equities analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Dividend Announcement

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

Wall Street Analyst Weigh In

INSW has been the subject of several recent research reports. Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.50.

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.