International Seaways (NYSE:INSW) Reaches New 52-Week High – Here’s Why

International Seaways Inc. (NYSE:INSW)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $55.25 and last traded at $55.21, with a volume of 373996 shares trading hands. The stock had previously closed at $54.41.

Wall Street Analysts Forecast Growth

INSW has been the topic of several research analyst reports. Pareto Securities lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.67.

International Seaways Stock Up 0.1%

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $51.08 and its 200-day moving average is $46.47. The stock has a market capitalization of $2.69 billion, a PE ratio of 14.06 and a beta of -0.18.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The business had revenue of $84.82 million for the quarter. On average, equities research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

Insider Transactions at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $48.26, for a total value of $48,260.00. Following the sale, the chief financial officer owned 75,242 shares of the company’s stock, valued at approximately $3,631,178.92. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction on Monday, November 10th. The stock was sold at an average price of $53.71, for a total value of $187,985.00. Following the transaction, the senior vice president directly owned 49,393 shares of the company’s stock, valued at $2,652,898.03. This trade represents a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,500 shares of company stock worth $1,698,825. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. Dimensional Fund Advisors LP increased its holdings in shares of International Seaways by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,903,764 shares of the transportation company’s stock worth $133,807,000 after buying an additional 42,051 shares during the last quarter. American Century Companies Inc. increased its stake in International Seaways by 7.5% during the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after acquiring an additional 139,868 shares during the last quarter. Geode Capital Management LLC increased its stake in International Seaways by 0.6% during the second quarter. Geode Capital Management LLC now owns 1,006,390 shares of the transportation company’s stock worth $36,718,000 after acquiring an additional 6,076 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of International Seaways by 43.9% in the 2nd quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock valued at $25,866,000 after purchasing an additional 216,325 shares in the last quarter. Finally, Encompass Capital Advisors LLC lifted its stake in shares of International Seaways by 33.3% in the 2nd quarter. Encompass Capital Advisors LLC now owns 399,824 shares of the transportation company’s stock valued at $14,586,000 after purchasing an additional 99,914 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.