Denali Advisors LLC Sells 33,546 Shares of International Seaways Inc. $INSW

Denali Advisors LLC cut its stake in shares of International Seaways Inc. (NYSE:INSW) by 68.8% in the fourth quarter, Holdings Channel reports. The firm owned 15,228 shares of the transportation company’s stock after selling 33,546 shares during the quarter. Denali Advisors LLC’s holdings in International Seaways were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INSW. Arizona State Retirement System boosted its holdings in International Seaways by 1.7% during the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock worth $572,000 after buying an additional 206 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of International Seaways by 2.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 274 shares during the last quarter. Founders Capital Management raised its position in shares of International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC raised its position in shares of International Seaways by 8.6% in the 4th quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock valued at $212,000 after acquiring an additional 344 shares during the period. Finally, First Horizon Corp boosted its stake in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after acquiring an additional 377 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 9,583 shares of International Seaways stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $76.00, for a total value of $728,308.00. Following the sale, the senior vice president owned 52,572 shares of the company’s stock, valued at approximately $3,995,472. This trade represents a 15.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James D. Small III sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $75.37, for a total value of $1,507,400.00. Following the completion of the sale, the chief accounting officer owned 36,376 shares in the company, valued at $2,741,659.12. The trade was a 35.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,697 shares of company stock valued at $4,517,070 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $100.00 price objective on shares of International Seaways in a report on Friday. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

International Seaways Trading Up 1.4%

Shares of NYSE:INSW opened at $91.47 on Friday. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 8.33 and a beta of -0.09. International Seaways Inc. has a 12 month low of $35.60 and a 12 month high of $92.66. The company’s fifty day simple moving average is $74.69 and its 200 day simple moving average is $61.28. The company has a quick ratio of 3.71, a current ratio of 7.34 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. As a group, research analysts forecast that International Seaways Inc. will post 13.6 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio is currently 7.70%.

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.