Cim LLC Takes $541,000 Position in International Seaways Inc. $INSW

Cim LLC bought a new stake in International Seaways Inc. (NYSE:INSW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,427 shares of the transportation company’s stock, valued at approximately $541,000.

A number of other large investors also recently made changes to their positions in INSW. Dimensional Fund Advisors LP boosted its holdings in International Seaways by 1.8% during 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 during the last quarter. Geode Capital Management LLC increased its stake in International Seaways by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock valued at $49,083,000 after buying an additional 4,250 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Seaways by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after buying an additional 12,188 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after buying an additional 380,931 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of International Seaways by 7.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock worth $20,133,000 after buying an additional 27,818 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INSW. Jefferies Financial Group restated a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. BTIG Research boosted their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, International Seaways presently has a consensus rating of “Buy” and a consensus price target of $86.00.

International Seaways Stock Up 0.8%

INSW opened at $94.31 on Thursday. International Seaways Inc. has a twelve month low of $39.06 and a twelve month high of $95.65. The company’s 50-day moving average price is $84.22 and its two-hundred day moving average price is $75.43. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 8.59 and a beta of -0.12. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. The company had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. International Seaways’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. As a group, equities analysts expect that International Seaways Inc. will post 15.62 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.12 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. International Seaways’s payout ratio is presently 4.37%.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of International Seaways stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the sale, the senior vice president directly owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This trade represents a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,530 shares of company stock valued at $3,699,995. Corporate insiders own 1.70% of the company’s stock.

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.