International Seaways Inc. $INSW Stock Holdings Boosted by Bessemer Group Inc.

Bessemer Group Inc. increased its position in International Seaways Inc. (NYSE:INSWFree Report) by 45.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,940 shares of the transportation company’s stock after acquiring an additional 32,073 shares during the period. Bessemer Group Inc. owned approximately 0.21% of International Seaways worth $7,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in International Seaways by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,773 shares of the transportation company’s stock worth $1,212,000 after purchasing an additional 1,716 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of International Seaways by 11.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,224 shares of the transportation company’s stock valued at $1,182,000 after buying an additional 1,611 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of International Seaways by 30.9% during the first quarter. Principal Financial Group Inc. now owns 252,670 shares of the transportation company’s stock valued at $18,415,000 after buying an additional 59,640 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of International Seaways during the first quarter valued at approximately $364,000. Finally, Kestra Advisory Services LLC boosted its position in shares of International Seaways by 224.3% during the first quarter. Kestra Advisory Services LLC now owns 5,669 shares of the transportation company’s stock worth $413,000 after buying an additional 3,921 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Insider Transactions at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the sale, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the sale, the chief executive officer owned 181,745 shares of the company’s stock, valued at approximately $16,008,099.60. This trade represents a 12.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,530 shares of company stock valued at $3,699,995 in the last quarter. Company insiders own 1.70% of the company’s stock.

International Seaways Trading Down 0.1%

Shares of NYSE:INSW opened at $86.67 on Monday. The company has a 50 day moving average of $83.40 and a 200-day moving average of $73.08. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.29 billion, a P/E ratio of 7.89 and a beta of -0.12. International Seaways Inc. has a twelve month low of $38.25 and a twelve month high of $92.66.

International Seaways (NYSE:INSWGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same quarter last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, analysts anticipate that International Seaways Inc. will post 15.62 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.12 per share. The ex-dividend date was Friday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is 4.37%.

Analyst Ratings Changes

A number of brokerages recently issued reports on INSW. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a report on Friday, May 8th. BTIG Research boosted their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, International Seaways has an average rating of “Moderate Buy” and an average price target of $86.00.

Read Our Latest Stock Report on INSW

Key Stories Impacting International Seaways

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International Seaways Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

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