Baird Financial Group Inc. Raises Stock Holdings in International Seaways Inc. $INSW

Baird Financial Group Inc. boosted its stake in shares of International Seaways Inc. (NYSE:INSW) by 5.0% during the second quarter, Holdings Channel.com reports. The firm owned 248,506 shares of the transportation company’s stock after purchasing an additional 11,835 shares during the quarter. Baird Financial Group Inc.’s holdings in International Seaways were worth $19,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after purchasing an additional 118 shares in the last quarter. Allworth Financial LP raised its position in shares of International Seaways by 23.4% in the 2nd quarter. Allworth Financial LP now owns 623 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 118 shares during the last quarter. GAMMA Investing LLC raised its position in shares of International Seaways by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock valued at $353,000 after purchasing an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after purchasing an additional 200 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in International Seaways by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after purchasing an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. BTIG Research lifted their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Finally, Jefferies Financial Group upped their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

International Seaways Stock Performance

Shares of INSW stock opened at $103.59 on Friday. The stock has a market cap of $5.13 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 0.26 and a beta of -0.13. The business has a 50-day simple moving average of $94.55 and a 200-day simple moving average of $83.86. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a 52-week low of $42.26 and a 52-week high of $106.73.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. During the same period last year, the business earned $1.02 earnings per share. International Seaways’s quarterly revenue was up 138.9% on a year-over-year basis. On average, equities analysts expect that International Seaways Inc. will post 16.09 EPS for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $5.05 dividend. The ex-dividend date is Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 19.5%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is presently 129.16%.

Insiders Place Their Bets

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares in the company, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,000 shares of company stock worth $441,240 over the last three months. 1.70% of the stock is currently owned by insiders.

About International Seaways

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.