Vontobel Holding Ltd. Decreases Position in International Seaways, Inc. (NYSE:INSW)

Vontobel Holding Ltd. decreased its stake in International Seaways, Inc. (NYSE:INSW) by 9.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,887 shares of the transportation company’s stock after selling 854 shares during the quarter. Vontobel Holding Ltd.’s holdings in International Seaways were worth $359,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. U S Global Investors Inc. purchased a new stake in shares of International Seaways in the third quarter worth about $78,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of International Seaways in the third quarter worth about $113,000. Baker Ellis Asset Management LLC purchased a new stake in shares of International Seaways in the third quarter worth about $220,000. SG Americas Securities LLC purchased a new stake in shares of International Seaways in the third quarter worth about $224,000. Finally, Capricorn Fund Managers Ltd purchased a new stake in shares of International Seaways in the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Trading Up 0.7 %

Shares of INSW opened at $53.97 on Wednesday. The stock has a 50-day moving average price of $52.66 and a 200 day moving average price of $49.54. International Seaways, Inc. has a one year low of $34.77 and a one year high of $55.59. The company has a market capitalization of $2.64 billion, a P/E ratio of 4.80 and a beta of -0.05. 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 (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The firm had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. Sell-side analysts forecast that International Seaways, Inc. will post 9.42 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 8.89%. The ex-dividend date was Wednesday, March 13th. International Seaways’s payout ratio is currently 4.27%.

Analysts Set New Price Targets

INSW has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price target on shares of International Seaways in a report on Thursday, February 29th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the sale, the chief financial officer now owns 82,161 shares in the company, valued at $4,361,927.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the sale, the chief financial officer now directly owns 82,161 shares in the company, valued at approximately $4,361,927.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the sale, the chief executive officer now 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 worth $3,073,978 over the last quarter. 2.00% of the stock is owned by corporate insiders.

International Seaways 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.