International Seaways Inc. $INSW Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its holdings in shares of International Seaways Inc. (NYSE:INSW) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,588 shares of the transportation company’s stock after selling 18,452 shares during the period. Exchange Traded Concepts LLC owned 0.15% of International Seaways worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in INSW. Vanguard Personalized Indexing Management LLC acquired a new position in International Seaways in the second quarter valued at approximately $273,000. Creative Planning lifted its position in shares of International Seaways by 270.9% during the 2nd quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock worth $1,130,000 after buying an additional 22,628 shares during the last quarter. Marex Group plc acquired a new position in shares of International Seaways in the 2nd quarter valued at $4,276,000. Denali Advisors LLC grew its position in shares of International Seaways by 61.9% in the 2nd quarter. Denali Advisors LLC now owns 25,100 shares of the transportation company’s stock valued at $916,000 after buying an additional 9,600 shares during the last quarter. Finally, CSM Advisors LLC acquired a new stake in International Seaways during the 2nd quarter worth $3,882,000. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Up 0.3%

INSW opened at $48.01 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $55.18. The stock has a market capitalization of $2.37 billion, a P/E ratio of 10.94 and a beta of -0.20. The business has a 50 day simple moving average of $50.68 and a 200-day simple moving average of $45.42.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share (EPS) for the quarter. The business had revenue of $84.82 million during the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%. On average, equities analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. International Seaways’s payout ratio is currently 10.93%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Wall Street Zen downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and an average target price of $52.67.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.26, for a total value of $48,260.00. Following the completion of the transaction, the chief financial officer directly owned 75,242 shares of the company’s stock, valued at approximately $3,631,178.92. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the sale, the senior vice president owned 49,393 shares of the company’s stock, valued at approximately $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 32,500 shares of company stock valued at $1,698,825. 2.00% of the stock is owned by corporate insiders.

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.