SG Americas Securities LLC Sells 14,698 Shares of International Seaways Inc. $INSW

SG Americas Securities LLC decreased its position in International Seaways Inc. (NYSE:INSW) by 48.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,341 shares of the transportation company’s stock after selling 14,698 shares during the period. SG Americas Securities LLC’s holdings in International Seaways were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of INSW. Blue Trust Inc. raised its stake in shares of International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in International Seaways by 3.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company’s stock valued at $517,000 after buying an additional 426 shares during the period. Rossby Financial LCC increased its holdings in International Seaways by 3.6% in the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company’s stock valued at $561,000 after buying an additional 530 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of International Seaways by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company’s stock valued at $330,000 after buying an additional 585 shares in the last quarter. Finally, Lesa Sroufe & Co lifted its holdings in shares of International Seaways by 1.1% during the 2nd quarter. Lesa Sroufe & Co now owns 58,161 shares of the transportation company’s stock worth $2,122,000 after acquiring an additional 608 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Up 3.1%

INSW stock opened at $58.00 on Thursday. The business has a fifty day moving average price of $51.68 and a 200 day moving average price of $47.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $58.25. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 13.21 and a beta of -0.18.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 6th. The transportation company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.91 by $0.24. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The company had revenue of $196.39 million for the quarter, compared to analysts’ expectations of $180.92 million. During the same quarter in the prior year, the business earned $1.57 earnings per share. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. Analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced 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 0.8%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio is presently 10.93%.

Insider Activity at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $55.68, for a total value of $55,680.00. Following the completion of the sale, the chief financial officer directly owned 79,073 shares of the company’s stock, valued at approximately $4,402,784.64. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $55.17, for a total value of $110,340.00. Following the sale, the chief executive officer owned 180,421 shares of the company’s stock, valued at approximately $9,953,826.57. The trade was a 1.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,500 shares of company stock valued at $1,732,605 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INSW. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday. Finally, Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.50.

About International Seaways

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.