6,700 Shares in International Seaways Inc. $INSW Purchased by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC bought a new stake in International Seaways Inc. (NYSE:INSW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,700 shares of the transportation company’s stock, valued at approximately $513,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of International Seaways by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of International Seaways by 4.0% during the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock valued at $353,000 after buying an additional 178 shares during the period. Oregon Public Employees Retirement Fund boosted its position in International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after acquiring an additional 200 shares during the last quarter. ProShare Advisors LLC boosted its position in International Seaways by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after acquiring an additional 241 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in International Seaways by 1.4% in the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after acquiring an additional 275 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,000 shares of company stock worth $441,240 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on INSW. BTIG Research boosted their price target on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group lifted their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Buy” and a consensus target price of $88.00.

International Seaways Price Performance

INSW stock opened at $98.98 on Wednesday. The stock has a 50-day moving average price of $89.71 and a two-hundred day moving average price of $80.52. International Seaways Inc. has a 12-month low of $42.26 and a 12-month high of $102.36. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.90 billion, a PE ratio of 6.33 and a beta of -0.13.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company’s quarterly revenue was up 138.9% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. As a group, research analysts predict that International Seaways Inc. will post 15.89 EPS for the current 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 issued a $5.05 dividend. The ex-dividend date is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 20.4%. International Seaways’s payout ratio is 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.