Cercano Management LLC Purchases New Position in International Seaways Inc. $INSW

Cercano Management LLC purchased a new stake in International Seaways Inc. (NYSE:INSW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 85,219 shares of the transportation company’s stock, valued at approximately $4,137,000.

Several other large investors have also added to or reduced their stakes in the business. Resolute Capital LLC bought a new position in International Seaways in the 4th quarter valued at about $1,273,000. Kingsview Wealth Management LLC lifted its position in International Seaways by 252.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 64,528 shares of the transportation company’s stock valued at $3,133,000 after acquiring an additional 46,234 shares in the last quarter. Geode Capital Management LLC lifted its position in International Seaways by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock valued at $49,083,000 after acquiring an additional 4,250 shares in the last quarter. Hantz Financial Services Inc. lifted its position in International Seaways by 23.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,902 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 361 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in International Seaways in the 4th quarter valued at about $238,000. Institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other news, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the completion of the sale, the chief accounting officer directly owned 36,376 shares of the company’s stock, valued at approximately $2,741,659.12. The trade was a 35.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William F. Nugent sold 6,830 shares of International Seaways stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total transaction of $582,120.90. Following the sale, the senior vice president directly owned 49,169 shares of the company’s stock, valued at $4,190,673.87. This represents a 12.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 75,009 shares of company stock worth $6,099,288. 1.70% of the stock is owned by corporate insiders.

International Seaways Stock Up 2.4%

International Seaways stock opened at $79.07 on Tuesday. International Seaways Inc. has a 1-year low of $35.60 and a 1-year high of $92.66. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 7.20 and a beta of -0.09. 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 50 day simple moving average of $78.89 and a 200 day simple moving average of $65.37.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share 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 during the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the business earned $0.80 EPS. International Seaways’s revenue was up 77.5% compared to the same quarter last year. On average, analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

Wall Street Analyst Weigh In

INSW has been the subject of several analyst reports. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. Benchmark reiterated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, International Seaways has a consensus rating of “Buy” and a consensus price target of $83.50.

International Seaways 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.