International Assets Investment Management LLC Takes Position in International Seaways, Inc. (NYSE:INSW)

International Assets Investment Management LLC acquired a new stake in International Seaways, Inc. (NYSE:INSW) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 90,960 shares of the transportation company’s stock, valued at approximately $4,137,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Qube Research & Technologies Ltd grew its position in shares of International Seaways by 103.9% in the third quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock valued at $1,991,000 after purchasing an additional 22,545 shares during the period. Hosking Partners LLP grew its position in International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock valued at $43,404,000 after acquiring an additional 161,643 shares during the period. Natixis Advisors L.P. grew its position in International Seaways by 103.2% during the third quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock valued at $1,889,000 after acquiring an additional 21,320 shares during the period. Barclays PLC grew its position in International Seaways by 160.9% during the third quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock valued at $2,498,000 after acquiring an additional 34,242 shares during the period. Finally, Brandywine Global Investment Management LLC grew its position in International Seaways by 15.8% during the third quarter. Brandywine Global Investment Management LLC now owns 148,639 shares of the transportation company’s stock valued at $6,689,000 after acquiring an additional 20,272 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Trading Up 0.1 %

Shares of INSW opened at $52.47 on Wednesday. The stock’s 50-day moving average is $52.58 and its two-hundred day moving average is $49.25. The stock has a market cap of $2.57 billion, a PE ratio of 4.66 and a beta of -0.05. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $55.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The company had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Equities analysts forecast that International Seaways, Inc. will post 9.33 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 9.15%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is 4.27%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INSW shares. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, April 6th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the transaction, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the transaction, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 13,760 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,846 shares of company stock worth $3,073,978. 2.00% of the stock is currently owned by corporate insiders.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.