Manatuck Hill Partners LLC Invests $971,000 in International Seaways Inc. $INSW

Manatuck Hill Partners LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the transportation company’s stock, valued at approximately $971,000.

Several other institutional investors have also modified their holdings of INSW. First Horizon Corp boosted its stake in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after acquiring an additional 377 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of International Seaways during the 4th quarter worth approximately $44,000. Advisory Services Network LLC purchased a new stake in shares of International Seaways during the 3rd quarter worth approximately $53,000. Founders Capital Management boosted its stake in shares of International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of International Seaways by 601.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after acquiring an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

INSW stock opened at $81.51 on Thursday. International Seaways Inc. has a 1 year low of $36.03 and a 1 year high of $92.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The stock’s 50 day moving average price is $81.02 and its 200 day moving average price is $67.67. The firm has a market cap of $4.04 billion, a P/E ratio of 7.42 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.International Seaways’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, sell-side analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm 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. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s payout ratio is 4.37%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSW. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, BTIG Research upped their target price on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $83.50.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 6,830 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the transaction, the senior vice president directly owned 49,169 shares in the company, valued at approximately $4,190,673.87. The trade was a 12.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Derek G. Solon sold 4,700 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the transaction, the senior vice president owned 49,719 shares of the company’s stock, valued at $4,435,929.18. This trade represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 45,530 shares of company stock valued at $3,923,635. Insiders own 1.70% of the company’s stock.

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.