CWA Asset Management Group LLC Makes New Investment in International Seaways Inc. $INSW

CWA Asset Management Group LLC acquired a new stake in International Seaways Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,766 shares of the transportation company’s stock, valued at approximately $1,008,000.

A number of other institutional investors and hedge funds have also made changes to their positions in INSW. Dimensional Fund Advisors LP increased its stake in shares of International Seaways by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,903,764 shares of the transportation company’s stock worth $133,807,000 after buying an additional 42,051 shares during the period. American Century Companies Inc. grew its holdings in International Seaways by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after acquiring an additional 139,868 shares in the last quarter. Geode Capital Management LLC grew its holdings in International Seaways by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,006,390 shares of the transportation company’s stock worth $36,718,000 after acquiring an additional 6,076 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of International Seaways by 43.9% in the 2nd quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock valued at $25,866,000 after purchasing an additional 216,325 shares during the last quarter. Finally, Encompass Capital Advisors LLC increased its position in shares of International Seaways by 33.3% in the 2nd quarter. Encompass Capital Advisors LLC now owns 399,824 shares of the transportation company’s stock valued at $14,586,000 after purchasing an additional 99,914 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Up 3.4%

INSW stock opened at $70.04 on Tuesday. The stock has a market cap of $3.46 billion, a P/E ratio of 11.24 and a beta of -0.23. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $78.51. The company’s 50 day moving average is $64.66 and its two-hundred day moving average is $54.68.

International Seaways (NYSE:INSW) last issued its 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 business had revenue of $267.88 million during the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. Research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio is currently 7.70%.

Insider Buying and Selling

In other International Seaways news, Director Randee E. Day sold 4,090 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.93, for a total transaction of $306,463.70. Following the transaction, the director owned 18,435 shares of the company’s stock, valued at approximately $1,381,334.55. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 9,583 shares of International Seaways stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $76.00, for a total value of $728,308.00. Following the sale, the senior vice president owned 52,572 shares in the company, valued at $3,995,472. This trade represents a 15.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,697 shares of company stock valued at $4,459,450 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INSW. Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. BTIG Research boosted their target price on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 20th. Finally, Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.00.

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.