Texas Permanent School Fund Corp Buys 16,554 Shares of International Seaways Inc. $INSW

Texas Permanent School Fund Corp lifted its stake in shares of International Seaways Inc. (NYSE:INSW) by 59.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,474 shares of the transportation company’s stock after buying an additional 16,554 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of International Seaways worth $1,622,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Encompass Capital Advisors LLC bought a new position in International Seaways in the first quarter valued at about $9,957,000. Donald Smith & CO. Inc. increased its stake in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock valued at $25,866,000 after buying an additional 216,325 shares during the period. Baird Financial Group Inc. bought a new position in International Seaways in the 1st quarter valued at approximately $6,965,000. American Century Companies Inc. boosted its position in International Seaways by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock worth $67,674,000 after buying an additional 159,125 shares during the period. Finally, Frontier Capital Management Co. LLC grew its holdings in International Seaways by 105.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after acquiring an additional 138,625 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INSW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Pareto Securities downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, International Seaways has an average rating of “Moderate Buy” and a consensus price target of $52.67.

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $53.71, for a total transaction of $187,985.00. Following the completion of the sale, the senior vice president owned 49,393 shares of the company’s stock, valued at $2,652,898.03. This trade represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $48.56, for a total value of $97,120.00. Following the completion of the transaction, the chief executive officer directly owned 182,421 shares in the company, valued at approximately $8,858,363.76. This trade represents a 1.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,500 shares of company stock worth $1,698,825 in the last quarter. 2.00% of the stock is currently owned by company insiders.

International Seaways Trading Up 0.9%

INSW opened at $48.79 on Tuesday. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $55.18. The company has a fifty day moving average of $50.45 and a 200-day moving average of $45.31. The stock has a market cap of $2.41 billion, a PE ratio of 11.11 and a beta of -0.20. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share (EPS) for the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The firm had revenue of $84.82 million during the quarter. On average, sell-side analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, December 9th. International Seaways’s payout ratio is currently 10.93%.

About International Seaways

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.