SG Americas Securities LLC Acquires 18,935 Shares of International Seaways Inc. $INSW

SG Americas Securities LLC increased its holdings in shares of International Seaways Inc. (NYSE:INSW) by 123.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,276 shares of the transportation company’s stock after purchasing an additional 18,935 shares during the quarter. SG Americas Securities LLC owned 0.07% of International Seaways worth $1,664,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in shares of International Seaways during the 4th quarter worth approximately $910,000. CWA Asset Management Group LLC bought a new position in shares of International Seaways during the 4th quarter worth approximately $1,008,000. GAMMA Investing LLC grew its stake in shares of International Seaways by 8.6% during the 4th quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock worth $212,000 after acquiring an additional 344 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of International Seaways during the 3rd quarter worth approximately $64,000. Finally, Advisory Services Network LLC bought a new position in shares of International Seaways during the 3rd quarter worth approximately $53,000. 67.29% of the stock is owned by institutional investors.

Insider Activity at International Seaways

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.88, for a total transaction of $374,400.00. Following the sale, the director directly 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Treasurer Debra Grillo sold 389 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $76.27, for a total value of $29,669.03. Following the sale, the treasurer owned 1,185 shares in the company, valued at approximately $90,379.95. This trade represents a 24.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,697 shares of company stock valued at $4,459,450. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. BTIG Research raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen cut shares of International Seaways from a “strong-buy” rating to a “buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and a consensus price target of $68.00.

International Seaways Stock Performance

NYSE:INSW opened at $75.83 on Tuesday. The stock has a market cap of $3.75 billion, a P/E ratio of 12.17 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. The stock’s 50-day moving average is $67.90 and its 200-day moving average is $56.44. International Seaways Inc. has a 1-year low of $28.55 and a 1-year high of $78.51.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.70. The company 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 quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business posted $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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, March 20th. International Seaways’s payout ratio is 7.70%.

International Seaways Company 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.