20,035 Shares in International Seaways Inc. $INSW Acquired by Vest Financial LLC

Vest Financial LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) in the third quarter, HoldingsChannel reports. The institutional investor purchased 20,035 shares of the transportation company’s stock, valued at approximately $2,207,000.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of International Seaways in the second quarter worth $505,153,000. Arrowstreet Capital Limited Partnership increased its position in International Seaways by 167.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after acquiring an additional 380,931 shares during the period. Bank of New York Mellon Corp bought a new position in International Seaways during the second quarter worth $21,082,000. Empowered Funds LLC bought a new position in International Seaways during the second quarter worth $19,711,000. Finally, Acorn Financial Advisory Services Inc. ADV acquired a new position in International Seaways during the 1st quarter valued at $13,145,000. 67.29% of the stock is owned by institutional investors.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $114.23, for a total transaction of $228,460.00. Following the sale, the chief executive officer directly owned 169,745 shares of the company’s stock, valued at approximately $19,389,971.35. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Finance Ltd Famatown sold 102,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $111.82, for a total value of $11,405,640.00. Following the completion of the sale, the insider owned 6,932,458 shares in the company, valued at approximately $775,187,453.56. This represents a 1.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 451,290 shares of company stock valued at $51,351,266. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research boosted their price objective on shares of International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, B. Riley Financial increased their target price on shares of International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, International Seaways presently has an average rating of “Buy” and an average price target of $109.80.

International Seaways Price Performance

NYSE:INSW opened at $110.93 on Friday. The company has a 50-day moving average of $107.22 and a 200-day moving average of $92.29. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 0.29 and a beta of -0.14. International Seaways Inc. has a 52 week low of $46.09 and a 52 week high of $126.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94.

International Seaways (NYSE:INSW) last issued its 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. The business had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue was up 138.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. As a group, equities research analysts anticipate that International Seaways Inc. will post 17.47 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $5.05 per share. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a yield of 18.2%. The ex-dividend date was Thursday, September 10th. International Seaways’s dividend payout ratio is 129.16%.

About International Seaways

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.