International Seaways (NYSE:INSW) Major Shareholder Finance Ltd Famatown Sells 100,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) major shareholder Finance Ltd Famatown sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $121.55, for a total transaction of $12,155,000.00. Following the transaction, the insider directly owned 6,604,304 shares in the company, valued at $802,753,151.20. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Finance Ltd Famatown also recently made the following trade(s):

• On Wednesday, October 14th, Finance Ltd Famatown sold 64,821 shares of International Seaways stock. The shares were sold at an average price of $125.05, for a total transaction of $8,105,866.05.
• On Tuesday, October 13th, Finance Ltd Famatown sold 38,917 shares of International Seaways stock. The shares were sold at an average price of $122.06, for a total value of $4,750,209.02.
• On Thursday, October 8th, Finance Ltd Famatown sold 200 shares of International Seaways stock. The stock was sold at an average price of $118.50, for a total value of $23,700.00.
• On Wednesday, October 7th, Finance Ltd Famatown sold 61,216 shares of International Seaways stock. The stock was sold at an average price of $117.08, for a total value of $7,167,169.28.
• On Tuesday, October 6th, Finance Ltd Famatown sold 66,738 shares of International Seaways stock. The stock was sold at an average price of $117.03, for a total value of $7,810,348.14.
• On Monday, October 5th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $114.97, for a total value of $11,497,000.00.
• On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The shares were sold at an average price of $111.82, for a total value of $11,405,640.00.
• On Monday, September 21st, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $111.09, for a total value of $11,109,000.00.
• On Friday, September 18th, Finance Ltd Famatown sold 15,136 shares of International Seaways stock. The shares were sold at an average price of $112.12, for a total value of $1,697,048.32.

International Seaways Stock Performance

INSW opened at $111.79 on Thursday. The firm has a market cap of $5.54 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.29 and a beta of -0.14. International Seaways Inc. has a 52-week low of $46.09 and a 52-week high of $126.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The business’s fifty day moving average is $107.93 and its 200-day moving average is $84.89.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The business had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. International Seaways’s revenue for the quarter was up 138.9% compared to the same quarter last year. Sell-side analysts expect that International Seaways Inc. will post 17.47 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a $5.05 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 18.1%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is 129.16%.

Analyst Ratings Changes

INSW has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 price objective on shares of International Seaways in a research report on Tuesday, September 1st. Finally, BTIG Research boosted their price objective on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $109.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INSW. BlackRock Inc. acquired a new position in International Seaways during the second quarter worth about $505,153,000. Dimensional Fund Advisors LP boosted its stake in shares of International Seaways by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock valued at $220,436,000 after purchasing an additional 52,743 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after purchasing an additional 380,931 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of International Seaways in the 2nd quarter valued at approximately $21,082,000. Finally, Empowered Funds LLC grew its holdings in shares of International Seaways by 13.9% during the 1st quarter. Empowered Funds LLC now owns 268,163 shares of the transportation company’s stock valued at $19,544,000 after purchasing an additional 32,634 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.