International Seaways, Inc. (NYSE:INSW) Shares Purchased by Swiss National Bank

Swiss National Bank grew its holdings in International Seaways, Inc. (NYSE:INSW – Get Rating) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,000 shares of the transportation company’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank owned about 0.18% of International Seaways worth $3,332,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of International Seaways by 92.5% during the fourth quarter. Russell Investments Group Ltd. now owns 38,856 shares of the transportation company’s stock worth $1,438,000 after acquiring an additional 18,667 shares during the period. Arizona State Retirement System boosted its stake in shares of International Seaways by 3.9% during the fourth quarter. Arizona State Retirement System now owns 10,517 shares of the transportation company’s stock worth $389,000 after buying an additional 396 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of International Seaways by 281.1% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 42,309 shares of the transportation company’s stock worth $1,566,000 after buying an additional 31,206 shares during the period. Fox Run Management L.L.C. acquired a new stake in International Seaways in the fourth quarter valued at about $541,000. Finally, Epacria Capital Partners LLC acquired a new stake in International Seaways in the fourth quarter valued at about $2,000,000. Hedge funds and other institutional investors own 84.39% of the company’s stock.

Analysts Set New Price Targets

INSW has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and set a $64.00 price target on shares of International Seaways in a research report on Tuesday, March 21st. B. Riley raised their price objective on shares of International Seaways from $60.00 to $70.00 in a research note on Wednesday, March 1st. Stifel Nicolaus raised their price objective on shares of International Seaways from $60.00 to $65.00 in a research note on Tuesday, April 25th. StockNews.com initiated coverage on shares of International Seaways in a research note on Thursday, May 18th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of International Seaways from $58.00 to $54.00 in a research note on Monday, May 8th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $60.60.

International Seaways Trading Down 1.0 %

Shares of NYSE:INSW opened at $38.45 on Tuesday. The company has a 50 day moving average of $40.17 and a 200-day moving average of $41.27. The firm has a market cap of $1.89 billion, a P/E ratio of 3.33 and a beta of 0.02. International Seaways, Inc. has a twelve month low of $17.89 and a twelve month high of $53.25. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.50.

International Seaways (NYSE:INSW – Get Rating) last issued its quarterly earnings results on Friday, May 5th. The transportation company reported $3.30 EPS for the quarter, beating the consensus estimate of $2.96 by $0.34. International Seaways had a net margin of 54.60% and a return on equity of 39.81%. The business had revenue of $287.13 million during the quarter, compared to the consensus estimate of $277.30 million. As a group, analysts anticipate that International Seaways, Inc. will post 9.87 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $6.48 annualized dividend and a yield of 16.85%. International Seaways’s dividend payout ratio is 4.16%.

Insiders Place Their Bets

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways 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 completion of the transaction, the chief financial officer now directly owns 74,973 shares of the company’s stock, valued at approximately $3,097,134.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $905,844.00. Following the sale, the director now owns 45,104 shares of the company’s stock, valued at $2,348,114.24. The sale was disclosed in a legal filing with the SEC, 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 sale, the chief financial officer now directly owns 74,973 shares in the company, valued at $3,097,134.63. The disclosure for this sale can be found here. Insiders have sold 41,400 shares of company stock worth $2,021,494 in the last ninety days. Insiders own 2.90% of the company’s stock.

International Seaways Profile

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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.