Two Sigma Securities LLC Makes New $507,000 Investment in International Seaways Inc. $INSW

Two Sigma Securities LLC purchased a new stake in International Seaways Inc. (NYSE:INSW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,621 shares of the transportation company’s stock, valued at approximately $507,000.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after purchasing an additional 12,188 shares in the last quarter. Resolute Capital LLC bought a new position in shares of International Seaways during the fourth quarter worth $1,273,000. NewEdge Wealth LLC grew its holdings in shares of International Seaways by 43.1% in the 1st quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock valued at $1,818,000 after buying an additional 7,511 shares during the period. Energy Income Partners LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at $4,161,000. Finally, Cercano Management LLC bought a new stake in shares of International Seaways in the 4th quarter valued at $4,137,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INSW. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.00 price objective on shares of International Seaways in a research note on Tuesday. BTIG Research raised their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Jefferies Financial Group boosted their price objective on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.75.

International Seaways Price Performance

NYSE INSW opened at $101.26 on Thursday. The firm’s 50 day moving average is $91.21 and its 200-day moving average is $82.10. 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 company has a market capitalization of $5.02 billion, a PE ratio of 6.47 and a beta of -0.13. International Seaways Inc. has a 12-month low of $42.26 and a 12-month high of $102.36.

International Seaways (NYSE:INSW) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, topping the consensus estimate of $5.55 by $0.36. The business had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue was up 138.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. Equities research analysts anticipate that International Seaways Inc. will post 16.09 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $5.05 per share. The ex-dividend date is Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.9%. 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%.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the transaction, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 5,000 shares of company stock valued at $441,240. Company insiders own 1.70% of the company’s stock.

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.