Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases Shares of 14,613 International Seaways Inc. $INSW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in International Seaways Inc. (NYSE:INSW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,613 shares of the transportation company’s stock, valued at approximately $709,000.

Several other hedge funds have also modified their holdings of the company. Founders Capital Management grew its holdings in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in International Seaways by 9.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,057 shares of the transportation company’s stock worth $708,000 after purchasing an additional 1,304 shares during the last quarter. TrueMark Investments LLC purchased a new stake in International Seaways during the fourth quarter valued at $1,404,000. Exchange Traded Concepts LLC raised its stake in International Seaways by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 76,977 shares of the transportation company’s stock valued at $3,737,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in International Seaways during the fourth quarter valued at $239,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $67.79, for a total transaction of $135,580.00. Following the transaction, the chief executive officer owned 208,745 shares of the company’s stock, valued at approximately $14,150,823.55. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.88, for a total value of $374,400.00. Following the completion of the sale, the director owned 10,213 shares in the company, valued at approximately $764,749.44. The trade was a 32.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,697 shares of company stock worth $4,459,450 over the last three months. 2.00% of the stock is currently owned by company insiders.

International Seaways Stock Down 0.1%

Shares of INSW opened at $75.31 on Friday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $67.52 and a 200 day moving average of $56.19. The company has a market cap of $3.72 billion, a PE ratio of 12.09 and a beta of -0.23. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $78.51.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. The business had revenue of $267.88 million for 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 business’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, March 20th. International Seaways’s dividend payout ratio is 7.70%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Wall Street Zen lowered International Seaways from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $68.00.

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.