Gordian Capital Singapore Pte Ltd Invests $737,000 in International Seaways Inc. $INSW

Gordian Capital Singapore Pte Ltd acquired a new stake in International Seaways Inc. (NYSE:INSW) in the third quarter, Holdings Channel reports. The institutional investor acquired 16,000 shares of the transportation company’s stock, valued at approximately $737,000.

A number of other large investors also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. grew its position in shares of International Seaways by 43.9% in the 2nd quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after buying an additional 216,325 shares during the last quarter. Pacer Advisors Inc. lifted its stake in International Seaways by 4,255.3% in the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after acquiring an additional 192,848 shares during the period. American Century Companies Inc. boosted its holdings in International Seaways by 9.4% in the second quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock valued at $67,674,000 after acquiring an additional 159,125 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in International Seaways by 105.2% in the second quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock valued at $9,864,000 after acquiring an additional 138,625 shares in the last quarter. Finally, Marex Group plc purchased a new position in International Seaways during the 2nd quarter valued at $4,276,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, January 20th. Finally, Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $68.00.

Insider Activity at International Seaways

In other International Seaways news, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the completion of the transaction, the chief accounting officer owned 36,376 shares in the company, valued at approximately $2,741,659.12. The trade was a 35.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randee E. Day sold 4,090 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $74.93, for a total value of $306,463.70. Following the completion of the sale, the director directly owned 18,435 shares in the company, valued at approximately $1,381,334.55. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,697 shares of company stock worth $4,402,750 over the last quarter. 2.00% of the stock is currently owned by company insiders.

International Seaways Stock Down 3.4%

NYSE:INSW opened at $73.20 on Wednesday. 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 firm’s 50-day moving average price is $61.44 and its 200-day moving average price is $53.19. The company has a market capitalization of $3.62 billion, a PE ratio of 11.75 and a beta of -0.23. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $78.51.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. The company had revenue of $267.88 million during the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. International Seaways’s revenue was up 37.7% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. On average, equities analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. International Seaways’s dividend payout ratio is presently 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.