Pendal Group Ltd Grows Stake in International Seaways, Inc. (NYSE:INSW)

Pendal Group Ltd increased its stake in International Seaways, Inc. (NYSE:INSWGet Rating) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,389 shares of the transportation company’s stock after acquiring an additional 34,563 shares during the period. Pendal Group Ltd’s holdings in International Seaways were worth $10,127,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in International Seaways by 2.4% in the fourth quarter. Rhumbline Advisers now owns 71,145 shares of the transportation company’s stock worth $1,044,000 after acquiring an additional 1,676 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of International Seaways during the fourth quarter valued at approximately $29,000. New York State Common Retirement Fund boosted its position in shares of International Seaways by 10.9% during the fourth quarter. New York State Common Retirement Fund now owns 30,890 shares of the transportation company’s stock valued at $453,000 after buying an additional 3,044 shares during the period. Spire Wealth Management boosted its position in shares of International Seaways by 3,906.8% during the fourth quarter. Spire Wealth Management now owns 3,526 shares of the transportation company’s stock valued at $52,000 after buying an additional 3,438 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of International Seaways by 14.4% during the fourth quarter. Principal Financial Group Inc. now owns 30,039 shares of the transportation company’s stock valued at $441,000 after buying an additional 3,778 shares during the period. Institutional investors own 78.00% of the company’s stock.

Shares of NYSE:INSW opened at $20.68 on Wednesday. International Seaways, Inc. has a 52 week low of $13.05 and a 52 week high of $24.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day moving average of $22.54 and a 200 day moving average of $18.81.

International Seaways (NYSE:INSWGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The transportation company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. The company had revenue of $101.48 million during the quarter, compared to the consensus estimate of $93.90 million. International Seaways had a negative net margin of 40.68% and a negative return on equity of 7.65%. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. Equities research analysts predict that International Seaways, Inc. will post 2.9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Friday, June 17th were paid a $0.12 dividend. This is an increase from International Seaways’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, June 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.32%. International Seaways’s payout ratio is -15.74%.

In other news, CAO James D. Small III sold 19,000 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $23.38, for a total transaction of $444,220.00. Following the transaction, the chief accounting officer now directly owns 47,222 shares of the company’s stock, valued at $1,104,050.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO James D. Small III sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $22.39, for a total value of $156,730.00. Following the transaction, the chief accounting officer now directly owns 40,222 shares in the company, valued at $900,570.58. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock valued at $642,940 in the last three months. 3.30% of the stock is currently owned by insiders.

Several research analysts have issued reports on the company. Clarkson Capital restated a “buy” rating on shares of International Seaways in a research report on Tuesday, June 14th. Jefferies Financial Group initiated coverage on International Seaways in a report on Wednesday, April 27th. They issued a “buy” rating and a $27.00 price target for the company. Finally, StockNews.com upgraded International Seaways to a “sell” rating in a report on Friday, April 29th.

International Seaways Profile (Get Rating)

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

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Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

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