UBS Group AG Reduces Stock Holdings in International Seaways Inc. $INSW

UBS Group AG lessened its stake in shares of International Seaways Inc. (NYSE:INSW) by 33.4% in the fourth quarter, HoldingsChannel reports. The firm owned 179,634 shares of the transportation company’s stock after selling 90,189 shares during the quarter. UBS Group AG’s holdings in International Seaways were worth $8,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSW. TrueMark Investments LLC acquired a new position in International Seaways during the 4th quarter worth approximately $1,404,000. Assenagon Asset Management S.A. acquired a new position in International Seaways during the 4th quarter worth approximately $910,000. SG Americas Securities LLC lifted its position in shares of International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after buying an additional 18,935 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of International Seaways during the 4th quarter worth approximately $709,000. Finally, Denali Advisors LLC lifted its position in shares of International Seaways by 94.3% during the 3rd quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock worth $2,248,000 after buying an additional 23,674 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of several recent analyst reports. BTIG Research boosted their price objective on shares of International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, January 20th. Jefferies Financial Group restated a “buy” rating and set a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Finally, Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

Insiders Place Their Bets

In other news, CEO Lois K. Zabrocky sold 25,000 shares of International Seaways stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the transaction, the chief executive officer directly owned 181,745 shares of the company’s stock, valued at $16,008,099.60. The trade was a 12.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William F. Nugent sold 9,583 shares of International Seaways stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $76.00, for a total transaction of $728,308.00. Following the completion of the transaction, the senior vice president directly owned 52,572 shares in the company, valued at $3,995,472. The trade was a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 97,227 shares of company stock worth $7,720,525. Corporate insiders own 1.70% of the company’s stock.

International Seaways Stock Down 0.0%

Shares of NYSE:INSW opened at $84.57 on Monday. The company has a market capitalization of $4.19 billion, a PE ratio of 7.70 and a beta of -0.09. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a twelve month low of $35.60 and a twelve month high of $92.66. The firm has a 50 day simple moving average of $76.29 and a 200-day simple moving average of $62.97.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, equities analysts predict that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s payout ratio is presently 4.37%.

About International Seaways

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.