6,986 Shares in International Seaways Inc. $INSW Bought by State of Wyoming

State of Wyoming purchased a new stake in shares of International Seaways Inc. (NYSE:INSW) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,986 shares of the transportation company’s stock, valued at approximately $535,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSW. Dimensional Fund Advisors LP lifted its position in shares of International Seaways by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after buying an additional 52,743 shares in the last quarter. Geode Capital Management LLC increased its position in International Seaways by 0.4% during the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after acquiring an additional 12,188 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of International Seaways by 167.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after acquiring an additional 380,931 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of International Seaways by 7.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock worth $20,133,000 after acquiring an additional 27,818 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction 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 completion of the sale, the chief executive officer directly owned 177,745 shares of the company’s stock, valued at $14,457,778.30. The trade was a 1.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INSW shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. BTIG Research increased their price objective on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Jefferies Financial Group raised their price objective on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, International Seaways currently has an average rating of “Buy” and an average target price of $88.00.

International Seaways Price Performance

Shares of INSW stock opened at $97.97 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The company has a market capitalization of $4.85 billion, a P/E ratio of 6.26 and a beta of -0.13. The company’s 50-day simple moving average is $87.63 and its two-hundred day simple moving average is $78.85. International Seaways Inc. has a one year low of $41.25 and a one year high of $99.43.

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

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $5.05 per share. This represents a $20.20 annualized dividend and a yield of 20.6%. The ex-dividend date is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 3.07%.

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.