Tidal Investments LLC Boosts Position in International Seaways Inc. $INSW

Tidal Investments LLC raised its position in International Seaways Inc. (NYSE:INSW) by 59.3% during the second quarter, Holdings Channel reports. The fund owned 51,034 shares of the transportation company’s stock after acquiring an additional 18,996 shares during the period. Tidal Investments LLC’s holdings in International Seaways were worth $3,909,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in INSW. Arlington Capital Management Inc. bought a new stake in International Seaways during the second quarter valued at approximately $219,000. Engineers Gate Manager LP boosted its stake in shares of International Seaways by 43.8% during the 2nd quarter. Engineers Gate Manager LP now owns 13,375 shares of the transportation company’s stock worth $1,024,000 after acquiring an additional 4,075 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of International Seaways during the 2nd quarter valued at $92,000. NewEdge Advisors LLC increased its stake in shares of International Seaways by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 11,164 shares of the transportation company’s stock worth $855,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in International Seaways by 1,243.0% in the 2nd quarter. Squarepoint Ops LLC now owns 156,942 shares of the transportation company’s stock worth $12,020,000 after purchasing an additional 145,256 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. BTIG Research raised their target price on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group upped their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Insider Buying and Selling at International Seaways

In other news, CEO Lois Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares in the company, valued at approximately $17,103,457.80. This represents a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

International Seaways Stock Up 2.0%

NYSE INSW opened at $105.74 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market capitalization of $5.24 billion, a P/E ratio of 6.76, a P/E/G ratio of 0.27 and a beta of -0.13. International Seaways Inc. has a one year low of $42.26 and a one year high of $106.73. The stock has a 50 day moving average price of $94.96 and a 200-day moving average price of $84.23.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. 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 firm posted $1.02 earnings per share. International Seaways’s revenue for the quarter was up 138.9% compared to the same quarter last year. As a group, equities analysts predict that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.1%. International Seaways’s payout ratio is presently 129.16%.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.