Manatuck Hill Partners LLC Purchases Shares of 20,000 International Seaways Inc. $INSW

Manatuck Hill Partners LLC purchased a new stake in International Seaways Inc. (NYSE:INSW) in the 4th quarter, Holdings Channel.com reports. The fund purchased 20,000 shares of the transportation company’s stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds have also made changes to their positions in INSW. Royal Bank of Canada increased its holdings in shares of International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after buying an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after buying an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after buying an additional 18,509 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of International Seaways during the 2nd quarter worth $223,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of International Seaways during the 2nd quarter worth $1,626,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Down 0.6%

Shares of NYSE INSW opened at $81.51 on Thursday. International Seaways Inc. has a 12-month low of $36.03 and a 12-month high of $92.66. The company has a market cap of $4.04 billion, a P/E ratio of 7.42 and a beta of -0.12. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $81.02 and a 200 day moving average price of $67.67.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The firm had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. During the same period in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 77.5% compared to the same quarter last year. Research analysts anticipate that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, BTIG Research upped their price objective on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One equities 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 stock. According to MarketBeat, International Seaways has an average rating of “Buy” and an average price target of $83.50.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.34, for a total value of $162,680.00. Following the completion of the sale, the chief executive officer directly owned 177,745 shares in the company, valued at approximately $14,457,778.30. This represents a 1.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,530 shares of company stock valued at $3,923,635 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

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.