Hosking Partners LLP Sells 161,363 Shares of International Seaways Inc. $INSW

Hosking Partners LLP cut its position in International Seaways Inc. (NYSE:INSW) by 26.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 447,206 shares of the transportation company’s stock after selling 161,363 shares during the quarter. International Seaways accounts for 1.7% of Hosking Partners LLP’s holdings, making the stock its 17th largest holding. Hosking Partners LLP owned approximately 0.90% of International Seaways worth $49,255,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in International Seaways during the 2nd quarter worth about $28,000. Mather Group LLC. boosted its holdings in International Seaways by 100.0% during the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 200 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 822 shares during the period. Allworth Financial LP purchased a new position in International Seaways during the 2nd quarter valued at about $48,000. Finally, Public Employees Retirement System of Ohio acquired a new position in International Seaways in the 2nd quarter valued at about $66,000. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Up 6.4%

International Seaways stock opened at $111.44 on Thursday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 7.13, a P/E/G ratio of 0.28 and a beta of -0.14. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a twelve month low of $44.84 and a twelve month high of $126.27. The stock’s fifty day simple moving average is $106.68 and its 200-day simple moving average is $91.93.

International Seaways (NYSE:INSW) last released its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The firm had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. During the same period last year, the business posted $1.02 earnings per share. International Seaways’s revenue was up 138.9% compared to the same quarter last year. As a group, equities analysts expect that International Seaways Inc. will post 17.47 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a $5.05 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a yield of 18.1%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is 129.16%.

Insider Transactions at International Seaways

In other news, major shareholder Finance Ltd Famatown sold 61,216 shares of International Seaways stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $117.08, for a total value of $7,167,169.28. Following the completion of the transaction, the insider owned 6,704,504 shares in the company, valued at approximately $784,963,328.32. This trade represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the transaction, the chief executive officer owned 169,745 shares of the company’s stock, valued at $19,389,971.35. The trade was a 1.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 451,290 shares of company stock worth $51,351,266 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on INSW shares. Jefferies Financial Group lifted their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. B. Riley Financial increased their price target on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. BTIG Research raised their price objective on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Finally, Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $109.80.

About International Seaways

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.