VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in International Seaways Inc. $INSW

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of International Seaways Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,900 shares of the transportation company’s stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Corp raised its position in shares of International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the period. Federated Hermes Inc. boosted its holdings in International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares during the period. Founders Capital Management raised its holdings in International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the period. Advisory Services Network LLC purchased a new stake in shares of International Seaways during the third quarter worth $53,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the third quarter worth $64,000. 67.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO James D. Small III sold 20,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total value of $1,507,400.00. Following the transaction, the chief accounting officer owned 36,376 shares of the company’s stock, valued at $2,741,659.12. This represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the transaction, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. The trade was a 12.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 97,227 shares of company stock worth $7,781,495. 1.70% of the stock is owned by corporate insiders.

International Seaways Price Performance

NYSE:INSW opened at $85.40 on Tuesday. International Seaways Inc. has a 52-week low of $35.60 and a 52-week high of $92.66. The stock has a fifty day moving average of $76.55 and a 200 day moving average of $63.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share 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 for the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 77.5% compared to the same quarter last year. On average, research analysts expect that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INSW shares. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Monday. BTIG Research lifted their target price on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and an average target price of $83.50.

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.