Walleye Capital LLC purchased a new stake in International Seaways, Inc. (NYSE:INSW – Get Rating) during the second quarter, according to its most recent filing with the SEC. The firm purchased 10,058 shares of the transportation company’s stock, valued at approximately $213,000.
Other hedge funds have also modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of International Seaways in the 1st quarter valued at approximately $100,000. Envestnet Asset Management Inc. acquired a new stake in International Seaways during the 2nd quarter worth approximately $211,000. Blueshift Asset Management LLC acquired a new stake in International Seaways during the 1st quarter worth approximately $198,000. Vontobel Holding Ltd. acquired a new stake in International Seaways during the 2nd quarter worth approximately $271,000. Finally, Toroso Investments LLC acquired a new stake in International Seaways during the 1st quarter worth approximately $240,000. 85.79% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at International Seaways
In related news, Director Craig H. Stevenson, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $45.11, for a total value of $2,255,500.00. Following the completion of the transaction, the director now directly owns 69,995 shares of the company’s stock, valued at $3,157,474.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $35.65, for a total transaction of $35,650.00. Following the completion of the sale, the chief financial officer now owns 46,348 shares of the company’s stock, valued at approximately $1,652,306.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig H. Stevenson, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $45.11, for a total value of $2,255,500.00. Following the sale, the director now directly owns 69,995 shares of the company’s stock, valued at approximately $3,157,474.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,999 shares of company stock valued at $6,053,207. 2.90% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
International Seaways Price Performance
Shares of INSW opened at $45.90 on Friday. The stock has a market capitalization of $2.25 billion and a P/E ratio of 16.88. International Seaways, Inc. has a twelve month low of $13.05 and a twelve month high of $48.12. The company has a 50 day moving average of $38.73 and a 200-day moving average of $29.37. The company has a quick ratio of 2.30, a current ratio of 2.31 and a debt-to-equity ratio of 0.68.
International Seaways (NYSE:INSW – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.28 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.14). International Seaways had a return on equity of 11.60% and a net margin of 21.81%. The business had revenue of $236.83 million for the quarter, compared to the consensus estimate of $236.13 million. As a group, equities research analysts forecast that International Seaways, Inc. will post 6.87 EPS for the current fiscal year.
International Seaways Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 8th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, December 7th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $4.48 annualized dividend and a dividend yield of 9.76%. International Seaways’s dividend payout ratio (DPR) is currently 17.65%.
About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.
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