33,500 Shares in International Seaways Inc. $INSW Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of International Seaways Inc. (NYSE:INSW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 33,500 shares of the transportation company’s stock, valued at approximately $2,566,000.

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

International Seaways Trading Down 2.4%

Shares of NYSE INSW opened at $102.15 on Friday. International Seaways Inc. has a 1-year low of $42.26 and a 1-year high of $106.73. The business has a fifty day moving average price of $94.12 and a 200 day moving average price of $83.72. The stock has a market capitalization of $5.06 billion, a P/E ratio of 6.53, a price-to-earnings-growth ratio of 0.27 and a beta of -0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The firm’s quarterly revenue was up 138.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Equities research analysts expect that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.8%. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 3.07%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. BTIG Research raised their target price on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Jefferies Financial Group upped their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. The trade was a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 5,000 shares of company stock worth $441,240. Insiders own 1.70% of the company’s stock.

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.