Segall Bryant & Hamill LLC Acquires New Shares in International Seaways Inc. $INSW

Segall Bryant & Hamill LLC acquired a new position in International Seaways Inc. (NYSE:INSW) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,299 shares of the transportation company’s stock, valued at approximately $3,010,000.

Several other hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in International Seaways by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock valued at $220,436,000 after buying an additional 52,743 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of International Seaways by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after buying an additional 4,250 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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. Arrowstreet Capital Limited Partnership boosted its stake in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after acquiring an additional 380,931 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of International Seaways by 7.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock valued at $20,133,000 after acquiring an additional 27,818 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In related news, SVP Derek G. Solon sold 4,700 shares of the stock in a transaction dated 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 sale, the senior vice president owned 49,719 shares in the company, valued at approximately $4,435,929.18. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of International Seaways stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the sale, the senior vice president directly owned 49,169 shares in the company, valued at approximately $4,190,673.87. This trade represents a 12.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 42,530 shares of company stock worth $3,699,995 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INSW shares. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. BTIG Research increased their price target on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, 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. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $86.00.

International Seaways Price Performance

NYSE:INSW opened at $92.55 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways Inc. has a one year low of $41.20 and a one year high of $98.23. The company has a fifty day moving average price of $85.10 and a 200 day moving average price of $76.54. The stock has a market cap of $4.58 billion, a P/E ratio of 8.43 and a beta of -0.13.

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

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.