Charles Schwab Investment Management Inc. Acquires 12,188 Shares of International Seaways Inc. $INSW

Charles Schwab Investment Management Inc. raised its holdings in shares of International Seaways Inc. (NYSE:INSW) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 638,791 shares of the transportation company’s stock after purchasing an additional 12,188 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in International Seaways were worth $31,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Corp raised its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after buying an additional 378 shares during the period. Leonteq Securities AG acquired a new position in shares of International Seaways in the 4th quarter valued at $44,000. Founders Capital Management grew its holdings in shares of International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after buying an additional 300 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of International Seaways in the 3rd quarter valued at $53,000. Institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

INSW has been the subject of several research analyst reports. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 20th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BTIG Research boosted their price target on shares of International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Benchmark reissued a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.50.

International Seaways Price Performance

Shares of NYSE INSW opened at $84.57 on Friday. The firm has a market cap of $4.19 billion, a PE ratio of 7.70 and a beta of -0.09. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 1-year low of $35.60 and a 1-year high of $92.66. The company has a fifty day moving average price of $76.29 and a 200 day moving average price of $62.87.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analyst estimates 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 for the quarter was up 77.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. Research analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.12 dividend. The ex-dividend date of this dividend is 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 is presently 4.37%.

Insider Transactions at International Seaways

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $74.88, for a total value of $374,400.00. Following the completion of the transaction, the director directly owned 10,213 shares of the company’s stock, valued at approximately $764,749.44. This represents a 32.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James D. Small III sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the completion of the transaction, the chief accounting officer directly owned 36,376 shares of the company’s stock, valued at approximately $2,741,659.12. The trade was a 35.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 97,227 shares of company stock worth $7,720,525. Company insiders own 1.70% of the company’s stock.

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.