International Seaways Inc. $INSW Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in International Seaways Inc. (NYSE:INSW) by 111.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,102 shares of the transportation company’s stock after buying an additional 6,893 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in International Seaways were worth $1,003,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of International Seaways by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after purchasing an additional 52,743 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of International Seaways by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock valued at $49,083,000 after purchasing an additional 4,250 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $31,013,000 after purchasing an additional 12,188 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in International Seaways by 167.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after purchasing an additional 380,931 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in International Seaways by 7.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock worth $20,133,000 after purchasing an additional 27,818 shares during the period. Institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 $8,330,053.12. This represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INSW shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. BTIG Research increased their price target on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Jefferies Financial Group boosted their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $88.00.

International Seaways Price Performance

NYSE INSW opened at $95.03 on Friday. The stock has a market capitalization of $4.71 billion, a P/E ratio of 6.08 and a beta of -0.13. International Seaways Inc. has a 1 year low of $41.21 and a 1 year high of $98.23. The business’s fifty day moving average is $86.98 and its two-hundred day moving average is $78.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a return on equity of 32.59% and a net margin of 61.98%.International Seaways’s revenue was up 138.9% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. On average, research analysts forecast that International Seaways Inc. will post 15.89 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 21.3%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 10th. International Seaways’s payout ratio is 3.07%.

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.