Vise Technologies Inc. Takes $424,000 Position in International Seaways Inc. $INSW

Vise Technologies Inc. purchased a new position in International Seaways Inc. (NYSE:INSW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,536 shares of the transportation company’s stock, valued at approximately $424,000.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in International Seaways by 11.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after purchasing an additional 118 shares during the period. GAMMA Investing LLC lifted its holdings in shares of International Seaways by 4.0% during the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock valued at $353,000 after purchasing an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after purchasing an additional 200 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of International Seaways by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after purchasing an additional 241 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after buying an additional 275 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 5,000 shares of company stock valued at $441,240. Corporate insiders own 1.70% of the company’s stock.

International Seaways Stock Down 1.0%

Shares of International Seaways stock opened at $98.98 on Wednesday. International Seaways Inc. has a twelve month low of $42.26 and a twelve month high of $102.36. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $89.71 and its 200 day moving average is $80.52. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 6.33 and a beta of -0.13.

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

International Seaways Increases Dividend

The company 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 $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 20.4%. International Seaways’s payout ratio is 3.07%.

Analyst Ratings Changes

A number of brokerages have issued reports on INSW. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. BTIG Research lifted their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Jefferies Financial Group increased their price objective on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. One 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 company’s stock. Based on data from MarketBeat.com, International Seaways presently has a consensus rating of “Buy” and an average price target of $88.00.

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.