Hennion & Walsh Asset Management Inc. Has $1 Million Position in International Seaways Inc. $INSW

Hennion & Walsh Asset Management Inc. raised its position in International Seaways Inc. (NYSE:INSW) by 111.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,102 shares of the transportation company’s stock after purchasing an additional 6,893 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in International Seaways were worth $1,003,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INSW. Charles Schwab Investment Management Inc. increased its position in International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after buying an additional 12,188 shares during the last quarter. Resolute Capital LLC bought a new stake in shares of International Seaways during the 4th quarter worth about $1,273,000. NewEdge Wealth LLC boosted its stake in shares of International Seaways by 43.1% during the 1st quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock worth $1,818,000 after acquiring an additional 7,511 shares in the last quarter. Cercano Management LLC acquired a new position in shares of International Seaways during the 4th quarter valued at about $4,137,000. Finally, Kingsview Wealth Management LLC increased its holdings in shares of International Seaways by 252.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 64,528 shares of the transportation company’s stock valued at $3,133,000 after acquiring an additional 46,234 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

Insider Activity at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the sale, the chief executive officer owned 177,745 shares in the company, valued at approximately $14,457,778.30. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is currently owned by corporate insiders.

International Seaways Trading Up 2.9%

International Seaways stock opened at $95.03 on Friday. International Seaways Inc. has a 52 week low of $41.21 and a 52 week high of $98.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The firm has a market capitalization of $4.71 billion, a PE ratio of 6.08 and a beta of -0.13. The business’s 50-day simple moving average is $86.98 and its 200-day simple moving average is $78.28.

International Seaways (NYSE:INSW) last announced 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 return on equity of 32.59% and a net margin of 61.98%.The firm’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. Equities research analysts forecast that International Seaways Inc. will post 15.89 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $5.05 per share. This represents a $20.20 dividend on an annualized basis and a dividend yield of 21.3%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways’s dividend payout ratio is presently 3.07%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INSW shares. Jefferies Financial Group boosted their target price on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, BTIG Research upped their price objective on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $88.00.

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.