International Seaways Inc. $INSW Shares Sold by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC reduced its stake in shares of International Seaways Inc. (NYSE:INSW) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,871 shares of the transportation company’s stock after selling 17,606 shares during the period. Aristotle Capital Boston LLC’s holdings in International Seaways were worth $8,393,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INSW. Amundi acquired a new position in International Seaways during the 4th quarter worth $13,663,000. American Century Companies Inc. grew its holdings in 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 acquiring an additional 139,868 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings 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. Marnell Management LLC acquired a new position in International Seaways during the 4th quarter worth $6,012,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings 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. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP William F. Nugent sold 6,830 shares of International Seaways stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.23, for a total value of $582,120.90. Following the sale, the senior vice president directly owned 49,169 shares in the company, valued at $4,190,673.87. This trade represents a 12.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.34, for a total transaction of $162,680.00. Following the sale, the chief executive officer owned 177,745 shares in the company, valued at $14,457,778.30. This trade represents a 1.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 45,530 shares of company stock valued at $3,923,635. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on INSW. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. BTIG Research raised their price objective on shares of International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price objective on shares of International Seaways in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and a consensus target price of $83.50.

International Seaways Trading Down 0.6%

Shares of NYSE:INSW opened at $81.51 on Thursday. The company has a market cap of $4.04 billion, a PE ratio of 7.42 and a beta of -0.12. The company’s 50-day moving average price is $81.02 and its 200 day moving average price is $67.67. International Seaways Inc. has a fifty-two week low of $36.03 and a fifty-two week high of $92.66. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. The firm had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. International Seaways’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS. Sell-side analysts anticipate that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is currently 4.37%.

International Seaways 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.