18,745 Shares in International Seaways Inc. $INSW Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new position in International Seaways Inc. (NYSE:INSW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,745 shares of the transportation company’s stock, valued at approximately $910,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in International Seaways by 4,255.3% in the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after purchasing an additional 192,848 shares in the last quarter. Marex Group plc purchased a new position in shares of International Seaways during the second quarter valued at about $4,276,000. Denali Advisors LLC increased its holdings in shares of International Seaways by 94.3% in the third quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock worth $2,248,000 after purchasing an additional 23,674 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of International Seaways by 7.5% in the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after purchasing an additional 139,868 shares during the last quarter. Finally, Compound Planning Inc. purchased a new stake in shares of International Seaways in the third quarter worth about $621,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Derek G. Solon sold 6,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $75.41, for a total value of $452,460.00. Following the transaction, the senior vice president directly owned 50,989 shares in the company, valued at approximately $3,845,080.49. This represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.88, for a total transaction of $374,400.00. Following the transaction, the director directly owned 10,213 shares in the company, valued at approximately $764,749.44. This trade represents a 32.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,697 shares of company stock worth $4,459,450 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

International Seaways Price Performance

INSW stock opened at $72.93 on Wednesday. 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 12 month low of $27.20 and a 12 month high of $78.51. The stock has a market cap of $3.60 billion, a PE ratio of 11.71 and a beta of -0.23. The company has a 50-day moving average price of $66.49 and a 200 day moving average price of $55.71.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.70. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. Equities research analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

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

Wall Street Analyst Weigh In

INSW has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 9th. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.