Shell Asset Management Co. Has $352,000 Holdings in International Seaways, Inc. (NYSE:INSW)

Shell Asset Management Co. cut its holdings in International Seaways, Inc. (NYSE:INSW – Get Rating) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,515 shares of the transportation company’s stock after selling 2,027 shares during the quarter. Shell Asset Management Co.’s holdings in International Seaways were worth $352,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in International Seaways in the third quarter valued at approximately $28,000. Point72 Hong Kong Ltd bought a new position in International Seaways in the third quarter valued at about $45,000. Centiva Capital LP bought a new position in International Seaways in the third quarter valued at about $200,000. Bailard Inc. acquired a new position in International Seaways in the 4th quarter valued at approximately $218,000. Finally, ProShare Advisors LLC acquired a new position in International Seaways in the 4th quarter valued at approximately $232,000. 84.39% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Performance

Shares of International Seaways stock opened at $37.75 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.49 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $42.70 and a two-hundred day moving average price of $41.51. International Seaways, Inc. has a 1-year low of $17.89 and a 1-year high of $53.25. The company has a market cap of $1.86 billion, a P/E ratio of 4.84 and a beta of 0.02.

International Seaways (NYSE:INSW – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The transportation company reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $0.37. The firm had revenue of $338.16 million for the quarter, compared to analysts’ expectations of $311.42 million. International Seaways had a return on equity of 29.13% and a net margin of 44.86%. As a group, analysts anticipate that International Seaways, Inc. will post 9.2 EPS for the current year.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 17.17%. The ex-dividend date of this dividend is Tuesday, June 13th. International Seaways’s payout ratio is 6.15%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on INSW shares. B. Riley increased their price objective on International Seaways from $60.00 to $70.00 in a report on Wednesday, March 1st. Stifel Nicolaus raised their target price on International Seaways from $60.00 to $65.00 in a research report on Tuesday, April 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $64.00 target price on shares of International Seaways in a research report on Tuesday, March 21st. StockNews.com started coverage on International Seaways in a research report on Thursday, March 16th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of International Seaways from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $61.40.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $41.31, for a total transaction of $41,310.00. Following the transaction, the chief financial officer now owns 74,973 shares of the company’s stock, valued at approximately $3,097,134.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other International Seaways news, Director Douglas D. Wheat sold 17,400 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $52.06, for a total transaction of $905,844.00. Following the completion of the sale, the director now owns 45,104 shares in the company, valued at approximately $2,348,114.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $41.31, for a total transaction of $41,310.00. Following the transaction, the chief financial officer now owns 74,973 shares in the company, valued at approximately $3,097,134.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,400 shares of company stock worth $2,023,944. Corporate insiders own 2.90% of the company’s stock.

About International Seaways

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.