Mirae Asset Global Investments Co. Ltd. Sells 7,086 Shares of International Seaways, Inc. (NYSE:INSW)

Mirae Asset Global Investments Co. Ltd. lowered its position in International Seaways, Inc. (NYSE:INSW) by 27.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,016 shares of the transportation company’s stock after selling 7,086 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in International Seaways were worth $865,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. U S Global Investors Inc. bought a new position in International Seaways during the 3rd quarter worth about $78,000. Counterpoint Mutual Funds LLC acquired a new stake in International Seaways in the 3rd quarter valued at about $113,000. Baker Ellis Asset Management LLC acquired a new stake in International Seaways during the third quarter worth approximately $220,000. SG Americas Securities LLC acquired a new stake in International Seaways during the third quarter worth approximately $224,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in International Seaways during the fourth quarter worth approximately $227,000. Institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now owns 75,927 shares in the company, valued at $4,117,521.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Lois K. Zabrocky sold 13,760 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the transaction, the chief executive officer now owns 148,942 shares in the company, valued at $7,874,563.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the transaction, the chief financial officer now owns 75,927 shares in the company, valued at approximately $4,117,521.21. The disclosure for this sale can be found here. Insiders have sold a total of 58,846 shares of company stock worth $3,073,978 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the topic of several recent research reports. Stifel Nicolaus raised their target price on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th.

International Seaways Price Performance

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

International Seaways (NYSE:INSW) last issued its quarterly earnings results 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 analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. Sell-side analysts predict that International Seaways, Inc. will post 9.42 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 8.89%. International Seaways’s payout ratio is 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.