Mackenzie Financial Corp Sells 865 Shares of International Seaways, Inc. (NYSE:INSW)

Mackenzie Financial Corp lessened its holdings in International Seaways, Inc. (NYSE:INSW) by 2.5% during the fourth quarter, Holdings Channel reports. The fund owned 34,363 shares of the transportation company’s stock after selling 865 shares during the period. Mackenzie Financial Corp’s holdings in International Seaways were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Swiss National Bank increased its position in International Seaways by 0.4% during the 3rd quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock worth $3,384,000 after buying an additional 300 shares during the period. Consolidated Portfolio Review Corp increased its position in International Seaways by 7.0% during the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock worth $357,000 after buying an additional 516 shares during the period. Nisa Investment Advisors LLC increased its position in International Seaways by 19.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,554 shares of the transportation company’s stock worth $430,000 after buying an additional 1,524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in International Seaways by 34.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,535 shares of the transportation company’s stock worth $294,000 after buying an additional 1,683 shares during the period. Finally, U S Global Investors Inc. bought a new position in International Seaways during the 3rd quarter worth $78,000. Institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 16,240 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.02, for a total value of $844,804.80. Following the sale, the chief executive officer now directly owns 136,260 shares of the company’s stock, valued at $7,088,245.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Lois K. Zabrocky sold 16,240 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.02, for a total value of $844,804.80. Following the sale, the chief executive officer now directly owns 136,260 shares of the company’s stock, valued at $7,088,245.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the sale, the chief executive officer now directly owns 148,942 shares in the company, valued at $7,874,563.54. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock valued at $3,073,978 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on INSW. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research report on Thursday, February 29th. Stifel Nicolaus increased their price objective on International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th.

International Seaways Stock Performance

INSW opened at $53.97 on Wednesday. The firm has a market cap of $2.64 billion, a P/E ratio of 4.80 and a beta of -0.05. International Seaways, Inc. has a 52-week low of $34.77 and a 52-week high of $55.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. The business’s fifty day moving average is $52.66 and its 200-day moving average is $49.54.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.10. The company had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Sell-side analysts expect that International Seaways, Inc. will post 9.42 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently disclosed 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 yield of 8.89%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

International Seaways Company Profile

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.