International Seaways Inc. $INSW Stock: Vise Technologies Inc. Raises Holdings

Vise Technologies Inc. boosted its stake in International Seaways Inc. (NYSE:INSW) by 111.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,712 shares of the transportation company’s stock after buying an additional 6,176 shares during the quarter. Vise Technologies Inc.’s holdings in International Seaways were worth $1,290,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INSW. Baird Financial Group Inc. raised its position in shares of International Seaways by 5.0% in the second quarter. Baird Financial Group Inc. now owns 248,506 shares of the transportation company’s stock valued at $19,033,000 after buying an additional 11,835 shares during the last quarter. NewEdge Wealth LLC lifted its stake in shares of International Seaways by 43.1% during the first 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 during the period. Man Group plc acquired a new stake in International Seaways during the second quarter worth approximately $867,000. Two Sigma Securities LLC acquired a new stake in International Seaways during the second quarter worth approximately $507,000. Finally, Energy Income Partners LLC acquired a new stake in International Seaways during the second quarter worth approximately $4,161,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Finance Ltd Famatown sold 102,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $111.82, for a total transaction of $11,405,640.00. Following the completion of the sale, the insider directly owned 6,932,458 shares in the company, valued at $775,187,453.56. This represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the transaction, the chief executive officer directly owned 169,745 shares in the company, valued at $19,389,971.35. This trade represents a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 655,028 shares of company stock worth $76,362,341. 1.70% of the stock is currently owned by insiders.

International Seaways Trading Up 3.9%

Shares of INSW stock opened at $98.15 on Friday. The firm has a market cap of $4.86 billion, a P/E ratio of 4.65, a PEG ratio of 0.26 and a beta of -0.10. International Seaways Inc. has a 1-year low of $46.09 and a 1-year high of $126.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 6.69 and a quick ratio of 5.76. The firm’s 50-day simple moving average is $108.69 and its 200-day simple moving average is $86.58.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.13 by ($0.29). International Seaways had a return on equity of 40.81% and a net margin of 68.19%. The company had revenue of $483.20 million during the quarter, compared to analyst estimates of $349.50 million. During the same period in the prior year, the business posted $1.15 earnings per share. International Seaways’s revenue was up 146.0% on a year-over-year basis. As a group, equities analysts forecast that International Seaways Inc. will post 22.29 EPS for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 9th will be paid a dividend of $5.05 per share. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $20.20 dividend on an annualized basis and a yield of 20.6%. International Seaways’s dividend payout ratio (DPR) is currently 95.64%.

Wall Street Analysts Forecast Growth

INSW has been the subject of several analyst reports. BTIG Research boosted their price target on International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.80.

International Seaways Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.