Russell Investments Group Ltd. Grows Stock Position in International Seaways, Inc. (NYSE:INSW)

Russell Investments Group Ltd. increased its position in shares of International Seaways, Inc. (NYSE:INSW – Get Rating) by 92.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 38,856 shares of the transportation company’s stock after purchasing an additional 18,667 shares during the quarter. Russell Investments Group Ltd.’s holdings in International Seaways were worth $1,438,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INSW. Raymond James & Associates raised its position in shares of International Seaways by 66.3% during the 1st quarter. Raymond James & Associates now owns 30,045 shares of the transportation company’s stock valued at $542,000 after buying an additional 11,977 shares during the period. Natixis Advisors L.P. raised its position in shares of International Seaways by 17.0% during the 1st quarter. Natixis Advisors L.P. now owns 49,006 shares of the transportation company’s stock valued at $884,000 after buying an additional 7,125 shares during the period. BlackRock Inc. raised its position in shares of International Seaways by 0.5% during the 1st quarter. BlackRock Inc. now owns 3,280,445 shares of the transportation company’s stock valued at $59,180,000 after buying an additional 16,434 shares during the period. Dimensional Fund Advisors LP raised its position in shares of International Seaways by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,288 shares of the transportation company’s stock valued at $33,162,000 after buying an additional 136,964 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of International Seaways by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 3,465,109 shares of the transportation company’s stock valued at $62,511,000 after buying an additional 64,562 shares during the period. Hedge funds and other institutional investors own 84.39% of the company’s stock.

International Seaways Stock Down 2.1 %

International Seaways stock opened at $37.63 on Wednesday. International Seaways, Inc. has a twelve month low of $17.89 and a twelve month high of $53.25. The stock’s fifty day simple moving average is $40.03 and its 200-day simple moving average is $41.22. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.85 billion, a P/E ratio of 3.26 and a beta of 0.02.

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

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 17.22%. The ex-dividend date of this dividend is Tuesday, June 13th. International Seaways’s dividend payout ratio is currently 4.16%.

Analysts Set New Price Targets

A number of brokerages have issued reports on INSW. StockNews.com began coverage on International Seaways in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $64.00 target price on shares of International Seaways in a research report on Tuesday, March 21st. Deutsche Bank Aktiengesellschaft cut their target price on International Seaways from $58.00 to $54.00 in a research report on Monday, May 8th. Stifel Nicolaus boosted their target price on International Seaways from $60.00 to $65.00 in a research report on Tuesday, April 25th. Finally, B. Riley boosted their target price on International Seaways from $60.00 to $70.00 in a research report on Wednesday, March 1st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $60.60.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on 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 owns 74,973 shares in the company, valued at $3,097,134.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Douglas D. Wheat sold 13,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $44.50, for a total transaction of $578,500.00. Following the completion of the transaction, the director now owns 32,104 shares in the company, valued at $1,428,628. 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 business’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 of the company’s stock, valued at approximately $3,097,134.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,400 shares of company stock worth $2,021,494. Corporate 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.