Quadrature Capital Ltd Has $268,000 Stake in International Seaways, Inc. (NYSE:INSW)

Quadrature Capital Ltd trimmed its stake in International Seaways, Inc. (NYSE:INSW – Get Rating) by 30.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,629 shares of the transportation company’s stock after selling 3,282 shares during the period. Quadrature Capital Ltd’s holdings in International Seaways were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of INSW. Mangrove Partners boosted its position in shares of International Seaways by 26.1% during the 3rd quarter. Mangrove Partners now owns 571,188 shares of the transportation company’s stock worth $20,066,000 after purchasing an additional 118,117 shares in the last quarter. Martingale Asset Management L P lifted its position in International Seaways by 1.4% in the 3rd quarter. Martingale Asset Management L P now owns 51,107 shares of the transportation company’s stock valued at $1,796,000 after acquiring an additional 700 shares in the last quarter. Engineers Gate Manager LP increased its stake in International Seaways by 78.6% in the 3rd quarter. Engineers Gate Manager LP now owns 17,789 shares of the transportation company’s stock valued at $625,000 after buying an additional 7,829 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in International Seaways in the 3rd quarter valued at about $347,000. Finally, Federated Hermes Inc. purchased a new stake in International Seaways in the 3rd quarter valued at about $28,000. Institutional investors own 84.39% of the company’s stock.

International Seaways Price Performance

Shares of NYSE:INSW opened at $43.86 on Tuesday. The stock has a market cap of $2.15 billion, a PE ratio of 5.62 and a beta of 0.04. The company’s fifty day moving average is $42.25 and its 200 day moving average is $39.67. International Seaways, Inc. has a 52 week low of $15.78 and a 52 week high of $53.25. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.58.

International Seaways (NYSE:INSW – Get Rating) last issued its earnings results on Tuesday, February 28th. The transportation company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $0.37. International Seaways had a net margin of 44.86% and a return on equity of 29.13%. The company had revenue of $338.16 million for the quarter, compared to analysts’ expectations of $311.42 million. Research analysts anticipate that International Seaways, Inc. will post 8.38 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $8.00 annualized dividend and a dividend yield of 18.24%. This is a boost from International Seaways’s previous quarterly dividend of $1.12. International Seaways’s payout ratio is currently 6.15%.

Insider Buying and Selling

In related news, Director Douglas D. Wheat sold 17,400 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $52.06, for a total transaction of $905,844.00. Following the sale, the director now owns 45,104 shares of the company’s stock, valued at $2,348,114.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $36.62, for a total transaction of $36,620.00. Following the completion of the sale, the chief financial officer now directly owns 66,594 shares of the company’s stock, valued at $2,438,672.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas D. Wheat sold 17,400 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $52.06, for a total transaction of $905,844.00. Following the sale, the director now directly owns 45,104 shares of the company’s stock, valued at $2,348,114.24. The disclosure for this sale can be found here. Insiders have sold 35,400 shares of company stock valued at $1,713,069 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INSW shares. StockNews.com upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of International Seaways from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, March 6th. Jefferies Financial Group raised their price target on shares of International Seaways from $55.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, B. Riley raised their price target on shares of International Seaways from $60.00 to $70.00 in a report on Wednesday, March 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $56.40.

About International Seaways

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.