American Century Companies Inc. Purchases 139,868 Shares of International Seaways Inc. $INSW

American Century Companies Inc. increased its position in International Seaways Inc. (NYSE:INSW) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,994,978 shares of the transportation company’s stock after acquiring an additional 139,868 shares during the quarter. American Century Companies Inc. owned about 4.04% of International Seaways worth $91,929,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after purchasing an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in International Seaways by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after buying an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after buying an additional 18,509 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of International Seaways by 7.8% in the second quarter. Envestnet Asset Management Inc. now owns 156,745 shares of the transportation company’s stock valued at $5,718,000 after acquiring an additional 11,301 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of International Seaways by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 319,280 shares of the transportation company’s stock worth $11,647,000 after acquiring an additional 4,902 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $48.56, for a total value of $97,120.00. Following the transaction, the chief executive officer owned 182,421 shares of the company’s stock, valued at approximately $8,858,363.76. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $63.29, for a total value of $63,290.00. Following the sale, the chief financial officer owned 83,463 shares in the company, valued at $5,282,373.27. The trade was a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,000 shares of company stock worth $502,610 over the last three months. 2.00% of the stock is owned by company insiders.

International Seaways Stock Down 1.3%

Shares of NYSE:INSW opened at $75.50 on Wednesday. The company’s fifty day moving average is $58.89 and its 200-day moving average is $52.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $78.51. The company has a market capitalization of $3.73 billion, a PE ratio of 12.12 and a beta of -0.23.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. Equities research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways’s payout ratio is presently 7.70%.

Analyst Upgrades and Downgrades

INSW has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. BTIG Research raised their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Pareto Securities raised 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. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.