28,551 Shares in International Seaways Inc. $INSW Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,551 shares of the transportation company’s stock, valued at approximately $2,081,000. Lazard Asset Management LLC owned about 0.06% of International Seaways as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INSW. Dimensional Fund Advisors LP increased its holdings in shares of International Seaways by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after acquiring an additional 52,743 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $49,083,000 after purchasing an additional 4,250 shares during the period. Charles Schwab Investment Management Inc. boosted its position in International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after purchasing an additional 12,188 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings 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 purchasing an additional 380,931 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of International Seaways by 7.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock valued at $20,133,000 after purchasing an additional 27,818 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Down 0.1%

Shares of INSW opened at $96.13 on Monday. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12 month low of $39.06 and a 12 month high of $97.07. The firm’s 50 day moving average is $84.67 and its 200-day moving average is $76.01. The stock has a market capitalization of $4.76 billion, a PE ratio of 8.76 and a beta of -0.13.

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

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways’s dividend payout ratio is 4.37%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INSW. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. BTIG Research increased their price target on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $86.00.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.34, for a total transaction of $162,680.00. Following the sale, the chief executive officer owned 177,745 shares in the company, valued at $14,457,778.30. The trade was a 1.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 42,530 shares of company stock valued at $3,699,995. Company insiders own 1.70% of the company’s stock.

International Seaways Company 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.