8,828 Shares in International Seaways Inc. $INSW Purchased by Perpetual Ltd

Perpetual Ltd acquired a new position in International Seaways Inc. (NYSE:INSW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,828 shares of the transportation company’s stock, valued at approximately $429,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of International Seaways in the 4th quarter worth approximately $709,000. Founders Capital Management increased its position in shares of International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of International Seaways by 9.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,057 shares of the transportation company’s stock valued at $708,000 after acquiring an additional 1,304 shares during the last quarter. TrueMark Investments LLC bought a new stake in International Seaways during the fourth quarter worth $1,404,000. Finally, Exchange Traded Concepts LLC lifted its holdings 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 worth $3,737,000 after acquiring an additional 1,389 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INSW. Benchmark restated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Wall Street Zen cut International Seaways from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of International Seaways from $63.00 to $80.00 and gave the stock 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 price target for the company in a research report on Tuesday, January 20th. Finally, BTIG Research raised their price objective on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and a consensus price target of $68.00.

Insider Activity

In other news, SVP William F. Nugent sold 9,583 shares of International Seaways stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $76.00, for a total value of $728,308.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James D. Small III sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the completion of the sale, the chief accounting officer directly owned 36,376 shares in the company, valued at approximately $2,741,659.12. This trade represents a 35.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 60,697 shares of company stock valued at $4,459,450. 2.00% of the stock is currently owned by corporate insiders.

International Seaways Stock Performance

NYSE:INSW opened at $75.31 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The business has a fifty day simple moving average of $67.52 and a two-hundred day simple moving average of $56.25. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $78.51. The company has a market capitalization of $3.72 billion, a P/E ratio of 12.09 and a beta of -0.23.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. The firm had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business’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 firm earned $0.90 EPS. On average, analysts expect 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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio is 7.70%.

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.