Aristotle Capital Boston LLC Cuts Stock Holdings in International Seaways Inc. $INSW

Aristotle Capital Boston LLC reduced its position in shares of International Seaways Inc. (NYSE:INSW) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,871 shares of the transportation company’s stock after selling 17,606 shares during the period. Aristotle Capital Boston LLC owned approximately 0.35% of International Seaways worth $8,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after buying an additional 12,188 shares during the period. Resolute Capital LLC acquired a new position in International Seaways during the fourth quarter worth about $1,273,000. SG Americas Securities LLC grew its position in International Seaways by 123.4% during the fourth quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after buying an additional 18,935 shares during the period. TrueMark Investments LLC acquired a new position in International Seaways during the fourth quarter worth about $1,404,000. Finally, Assenagon Asset Management S.A. acquired a new position in International Seaways during the fourth quarter worth about $910,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $83.50.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 4,700 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the transaction, the senior vice president owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chief executive officer directly owned 181,745 shares in the company, valued at approximately $16,008,099.60. This represents a 12.09% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 45,530 shares of company stock worth $3,923,635. 1.70% of the stock is currently owned by insiders.

International Seaways Stock Performance

NYSE:INSW opened at $81.51 on Thursday. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.04 billion, a P/E ratio of 7.42 and a beta of -0.12. International Seaways Inc. has a fifty-two week low of $36.03 and a fifty-two week high of $92.66. The firm’s 50 day moving average is $81.02 and its two-hundred day moving average is $67.67.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. The company had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. International Seaways’s revenue was up 77.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Analysts expect that International Seaways Inc. will post 14.99 EPS for the current year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 4.37%.

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.