Asset Management One Co. Ltd. Cuts Position in International Seaways Inc. $INSW

Asset Management One Co. Ltd. decreased its position in International Seaways Inc. (NYSE:INSW) by 35.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,714 shares of the transportation company’s stock after selling 12,736 shares during the quarter. Asset Management One Co. Ltd.’s holdings in International Seaways were worth $1,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 378 shares during the period. Founders Capital Management raised its position in 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 during the period. Advisory Services Network LLC purchased a new stake in International Seaways in the third quarter valued at approximately $53,000. EverSource Wealth Advisors LLC raised its position in International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 1,293 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in International Seaways in the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSW. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 20th. BTIG Research boosted their target price on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $70.50.

Insider Transactions at International Seaways

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction 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 transaction, the director owned 10,213 shares of the company’s stock, valued at $764,749.44. This represents a 32.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 6,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $75.41, for a total value of $452,460.00. Following the completion of the transaction, the senior vice president directly owned 50,989 shares in the company, valued at $3,845,080.49. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,697 shares of company stock valued at $4,517,070 over the last ninety days. Company insiders own 2.00% of the company’s stock.

International Seaways Stock Performance

NYSE:INSW opened at $76.93 on Friday. The firm has a market capitalization of $3.81 billion, a PE ratio of 12.35 and a beta of -0.23. The business’s fifty day moving average price is $71.85 and its 200 day moving average price is $58.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. International Seaways Inc. has a 12 month low of $32.06 and a 12 month high of $79.07.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million for the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.International Seaways’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, sell-side analysts anticipate that International Seaways Inc. will post 9.73 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend 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%.

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.