Louisiana State Employees Retirement System Purchases New Position in International Seaways Inc. $INSW

Louisiana State Employees Retirement System purchased a new stake in International Seaways Inc. (NYSE:INSW) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,000 shares of the transportation company’s stock, valued at approximately $1,312,000.

Several other hedge funds have also bought and sold shares of the stock. Amundi purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $13,663,000. Tudor Investment Corp ET AL acquired a new position in shares of International Seaways in the 4th quarter valued at $7,087,000. Frontier Capital Management Co. LLC boosted its holdings in International Seaways by 105.2% during the second quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after buying an additional 138,625 shares in the last quarter. Fearnley Asset Management AS purchased a new stake in International Seaways during the fourth quarter worth $6,258,000. Finally, Marnell Management LLC acquired a new stake in International Seaways during the fourth quarter valued at $6,012,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. The trade was a 0.97% 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 stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the transaction, the chief executive officer directly owned 177,745 shares of the company’s stock, valued at $14,457,778.30. The trade was a 1.11% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 45,530 shares of company stock valued at $3,923,635. 1.70% of the stock is currently owned by corporate insiders.

International Seaways Price Performance

International Seaways stock opened at $82.35 on Friday. The stock has a market capitalization of $4.08 billion, a P/E ratio of 7.50 and a beta of -0.12. The company’s fifty day moving average price is $82.82 and its 200 day moving average price is $70.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a 1 year low of $37.72 and a 1 year high of $92.66.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to the consensus estimate 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 was up 77.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, equities research analysts anticipate that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is currently 4.37%.

Analysts Set New Price Targets

INSW has been the subject of a number of recent analyst reports. BTIG Research lifted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

International Seaways 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.