Bank of New York Mellon Corp Has $2.87 Million Position in International Seaways Inc. (INSW)

Bank of New York Mellon Corp boosted its position in International Seaways Inc. (NYSE:INSW) by 74.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,538 shares of the transportation company’s stock after acquiring an additional 56,562 shares during the quarter. Bank of New York Mellon Corp owned 0.45% of International Seaways worth $2,871,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in International Seaways by 105.2% in the second quarter. Rhumbline Advisers now owns 33,878 shares of the transportation company’s stock valued at $734,000 after acquiring an additional 17,369 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in International Seaways by 85.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,098 shares of the transportation company’s stock valued at $1,173,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in International Seaways by 25.3% in the second quarter. Russell Investments Group Ltd. now owns 436,665 shares of the transportation company’s stock valued at $9,463,000 after acquiring an additional 88,302 shares in the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Seaways Inc. (INSW) opened at 20.26 on Wednesday. International Seaways Inc. has a one year low of $9.00 and a one year high of $20.78. The firm’s market cap is $592.56 million. The company has a 50-day moving average of $19.46 and a 200 day moving average of $19.46.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 9th. The transportation company reported ($0.40) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.55). The company had revenue of $71.90 million for the quarter, compared to analyst estimates of $73.00 million. International Seaways had a positive return on equity of 0.91% and a negative net margin of 31.22%. International Seaways’s revenue was down 30.3% on a year-over-year basis. On average, equities research analysts expect that International Seaways Inc. will post $0.95 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Bank of New York Mellon Corp Has $2.87 Million Position in International Seaways Inc. (INSW)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/bank-of-new-york-mellon-corp-has-2-87-million-position-in-international-seaways-inc-insw.html.

Several analysts recently weighed in on INSW shares. Zacks Investment Research raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, August 8th. J P Morgan Chase & Co started coverage on shares of International Seaways in a report on Tuesday, June 13th. They issued an “overweight” rating and a $30.00 target price on the stock.

About International Seaways

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoin

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in International Seaways by 105.2% in the second quarter. Rhumbline Advisers now owns 33,878 shares of the transportation company’s stock valued at $734,000 after acquiring an additional 17,369 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in International Seaways by 85.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,098 shares of the transportation company’s stock valued at $1,173,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in International Seaways by 25.3% in the second quarter. Russell Investments Group Ltd. now owns 436,665 shares of the transportation company’s stock valued at $9,463,000 after acquiring an additional 88,302 shares in the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Seaways Inc. (INSW) opened at 20.26 on Wednesday. International Seaways Inc. has a one year low of $9.00 and a one year high of $20.78. The firm’s market cap is $592.56 million. The company has a 50-day moving average of $19.46 and a 200 day moving average of $19.46.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 9th. The transportation company reported ($0.40) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.55). The company had revenue of $71.90 million for the quarter, compared to analyst estimates of $73.00 million. International Seaways had a positive return on equity of 0.91% and a negative net margin of 31.22%. International Seaways’s revenue was down 30.3% on a year-over-year basis. On average, equities research analysts expect that International Seaways Inc. will post $0.95 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Bank of New York Mellon Corp Has $2.87 Million Position in International Seaways Inc. (INSW)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/bank-of-new-york-mellon-corp-has-2-87-million-position-in-international-seaways-inc-insw.html.

Several analysts recently weighed in on INSW shares. Zacks Investment Research raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, August 8th. J P Morgan Chase & Co started coverage on shares of International Seaways in a report on Tuesday, June 13th. They issued an “overweight” rating and a $30.00 target price on the stock.

About International Seaways

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.

Want to see what other hedge funds are holding INSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Seaways Inc. (NYSE:INSW).

Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

Receive News & Ratings for International Seaways Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply