Jupiter Topco LLC Invests $1.47 Million in International Seaways Inc. $INSW

Jupiter Topco LLC purchased a new stake in International Seaways Inc. (NYSE:INSW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,175 shares of the transportation company’s stock, valued at approximately $1,468,000.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of International Seaways in the second quarter worth about $505,153,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after acquiring an additional 380,931 shares during the last quarter. Amundi acquired a new stake in shares of International Seaways in the fourth quarter worth $13,663,000. Bank of New York Mellon Corp acquired a new stake in shares of International Seaways in the second quarter worth $21,082,000. Finally, Acorn Financial Advisory Services Inc. ADV purchased a new position in shares of International Seaways during the first quarter worth $13,145,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares in the company, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer directly 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. In the last 90 days, insiders sold 5,000 shares of company stock worth $441,240. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $107.00 price target on shares of International Seaways in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, BTIG Research upped their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

International Seaways Stock Up 2.0%

Shares of NYSE INSW opened at $104.26 on Friday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.26 and a beta of -0.13. The company’s 50-day simple moving average is $92.12 and its 200-day simple moving average is $82.53. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a 52-week low of $42.26 and a 52-week high of $105.50.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. During the same period last year, the company posted $1.02 EPS. International Seaways’s quarterly revenue was up 138.9% compared to the same quarter last year. Equities analysts predict that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 19.4%. 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 (DPR) is 129.16%.

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.