Private Advisory Group LLC Invests $869,000 in International Seaways Inc. $INSW

Private Advisory Group LLC bought a new stake in shares of International Seaways Inc. (NYSE:INSW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,340 shares of the transportation company’s stock, valued at approximately $869,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of International Seaways by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after buying an additional 12,188 shares in the last quarter. Resolute Capital LLC bought a new stake in shares of International Seaways in the 4th quarter worth about $1,273,000. NewEdge Wealth LLC raised its position in shares of International Seaways by 43.1% during the 1st quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock valued at $1,818,000 after buying an additional 7,511 shares in the last quarter. Cercano Management LLC bought a new position in shares of International Seaways in the 4th quarter valued at about $4,137,000. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of 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 during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.34, for a total transaction of $162,680.00. Following the transaction, the chief executive officer owned 177,745 shares of the company’s stock, valued at approximately $14,457,778.30. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. BTIG Research raised their price objective on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group lifted their target price on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $88.00.

International Seaways Price Performance

International Seaways stock opened at $96.91 on Friday. The firm has a 50-day moving average price of $87.30 and a 200-day moving average price of $78.41. The firm has a market capitalization of $4.80 billion, a PE ratio of 6.20 and a beta of -0.13. The company has a current ratio of 5.94, a quick ratio of 7.28 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a 12-month low of $41.25 and a 12-month high of $98.23.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. During the same period in the prior year, the firm posted $1.02 EPS. The firm’s revenue was up 138.9% compared to the same quarter last year. As a group, equities research analysts forecast that International Seaways Inc. will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $5.05 per share. This represents a $20.20 annualized dividend and a dividend yield of 20.8%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways’s dividend payout ratio (DPR) is presently 3.07%.

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.