Denali Advisors LLC Grows Stock Holdings in International Seaways Inc. $INSW

Denali Advisors LLC grew its position in International Seaways Inc. (NYSE:INSW) by 160.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,681 shares of the transportation company’s stock after buying an additional 52,153 shares during the quarter. Denali Advisors LLC’s holdings in International Seaways were worth $6,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Wealth LLC acquired a new position in International Seaways during the 2nd quarter worth about $2,426,000. Robotti Robert acquired a new position in International Seaways in the 2nd quarter valued at about $766,000. Energy Income Partners LLC purchased a new stake in International Seaways during the second quarter worth about $4,161,000. BlackRock Inc. purchased a new stake in International Seaways during the second quarter worth about $505,153,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of International Seaways during the second quarter worth about $324,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INSW. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Jefferies Financial Group upped their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. BTIG Research raised their price target on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $88.00.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. This trade represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 5,000 shares of company stock worth $441,240. 1.70% of the stock is owned by insiders.

International Seaways Trading Up 0.9%

NYSE INSW opened at $99.66 on Thursday. International Seaways Inc. has a 52 week low of $41.76 and a 52 week high of $100.50. The firm has a 50 day moving average of $88.32 and a two-hundred day moving average of $79.41. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $4.94 billion, a PE ratio of 6.37 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its quarterly earnings data 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. The business had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company’s revenue was up 138.9% on a year-over-year basis. During the same period last year, the business earned $1.02 EPS. As a group, research analysts expect that International Seaways Inc. will post 15.89 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $5.05 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a yield of 20.3%. The ex-dividend date is Thursday, September 10th. International Seaways’s payout ratio is 3.07%.

International Seaways Company 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.