NewEdge Wealth LLC Raises Holdings in International Seaways Inc. $INSW

NewEdge Wealth LLC grew its stake in International Seaways Inc. (NYSE:INSW) by 43.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,942 shares of the transportation company’s stock after buying an additional 7,511 shares during the quarter. NewEdge Wealth LLC’s holdings in International Seaways were worth $1,818,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in INSW. Charles Schwab Investment Management Inc. grew its holdings in International Seaways by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after acquiring an additional 12,188 shares in the last quarter. Resolute Capital LLC acquired a new stake in shares of International Seaways in the 4th quarter valued at $1,273,000. Cercano Management LLC purchased a new stake in shares of International Seaways during the 4th quarter worth $4,137,000. SG Americas Securities LLC lifted its position in shares of International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after purchasing an additional 18,935 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of International Seaways by 252.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 64,528 shares of the transportation company’s stock worth $3,133,000 after purchasing an additional 46,234 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William F. Nugent sold 6,830 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the sale, the senior vice president owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This trade represents a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,530 shares of company stock valued at $3,699,995. 1.70% of the stock is currently owned by insiders.

International Seaways Stock Performance

Shares of INSW stock opened at $92.28 on Friday. The stock’s 50-day moving average is $83.75 and its two-hundred day moving average is $74.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a 1 year low of $39.06 and a 1 year high of $93.48. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 8.40 and a beta of -0.12.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. The business had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. Analysts predict that International Seaways Inc. will post 15.62 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways’s dividend payout ratio is presently 4.37%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a report on Friday, May 8th. BTIG Research raised their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.