Resolute Capital LLC Invests $1.27 Million in International Seaways Inc. $INSW

Resolute Capital LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) in the fourth quarter, HoldingsChannel reports. The firm purchased 26,224 shares of the transportation company’s stock, valued at approximately $1,273,000. International Seaways accounts for 0.5% of Resolute Capital LLC’s portfolio, making the stock its 18th biggest position.

A number of other hedge funds have also modified their holdings of INSW. American Century Companies Inc. grew its holdings in shares of International Seaways by 7.5% during the 3rd 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 period. Frontier Capital Management Co. LLC lifted its stake in International Seaways by 105.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after acquiring an additional 138,625 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in International Seaways by 226.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 145,280 shares of the transportation company’s stock worth $6,695,000 after acquiring an additional 100,715 shares in the last quarter. AQR Capital Management LLC lifted its stake in International Seaways by 46.4% during the 2nd quarter. AQR Capital Management LLC now owns 306,160 shares of the transportation company’s stock worth $11,169,000 after acquiring an additional 97,081 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in International Seaways by 252.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 64,528 shares of the transportation company’s stock worth $3,133,000 after acquiring an additional 46,234 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Price Performance

INSW opened at $77.34 on Monday. The stock’s 50-day moving average price is $78.74 and its 200 day moving average price is $65.19. International Seaways Inc. has a 12-month low of $35.60 and a 12-month high of $92.66. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 7.04 and a beta of -0.12.

International Seaways (NYSE:INSW) last posted its quarterly earnings results 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. The company had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.International Seaways’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. As a group, sell-side analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently declared 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 of this dividend is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is currently 4.37%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INSW shares. Deutsche Bank Aktiengesellschaft increased their target price on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Jefferies Financial Group reissued a “buy” rating and set a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Finally, BTIG Research increased their target price on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, International Seaways presently has an average rating of “Buy” and an average price target of $83.50.

Insider Buying and Selling

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.88, for a total value of $374,400.00. Following the sale, the director owned 10,213 shares of the company’s stock, valued at $764,749.44. This trade represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $83.72, for a total value of $83,720.00. Following the completion of the sale, the chief financial officer directly owned 102,984 shares in the company, valued at $8,621,820.48. This represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,644 shares of company stock worth $6,297,967 over the last ninety days. Company insiders own 1.70% of the company’s stock.

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.