OMERS ADMINISTRATION Corp Makes New Investment in International Seaways Inc. $INSW

OMERS ADMINISTRATION Corp purchased a new stake in International Seaways Inc. (NYSE:INSW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 27,600 shares of the transportation company’s stock, valued at approximately $2,114,000.

Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of International Seaways in the second quarter valued at $28,000. Allworth Financial LP acquired a new position in International Seaways during the 2nd quarter worth $48,000. Leonteq Securities AG purchased a new stake in International Seaways during the 4th quarter worth about $44,000. Compass Financial Management LLC purchased a new stake in International Seaways during the 2nd quarter worth about $86,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in International Seaways in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. BTIG Research upped their target price on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday. Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group boosted their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

International Seaways Price Performance

Shares of NYSE INSW opened at $93.50 on Thursday. The stock’s 50-day simple moving average is $89.95 and its 200-day simple moving average is $80.76. The firm has a market capitalization of $4.63 billion, a PE ratio of 5.98 and a beta of -0.13. International Seaways Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $102.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s revenue was up 138.9% on a year-over-year basis. As a group, equities research analysts forecast that International Seaways Inc. will post 15.89 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 21.6%. The ex-dividend date is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 3.07%.

Insiders Place Their Bets

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer owned 173,745 shares in the company, valued at $17,103,457.80. This represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,000 shares of company stock worth $441,240 over the last ninety days. 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.