Strs Ohio Boosts Stake in International Seaways, Inc. (NYSE:INSW)

Strs Ohio raised its position in shares of International Seaways, Inc. (NYSE:INSW) by 136.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,400 shares of the transportation company’s stock after buying an additional 11,200 shares during the period. Strs Ohio’s holdings in International Seaways were worth $882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INSW. Counterpoint Mutual Funds LLC purchased a new position in International Seaways in the third quarter valued at $113,000. U S Global Investors Inc. raised its stake in International Seaways by 144.5% in the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,500 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new position in International Seaways in the 3rd quarter valued at $220,000. SG Americas Securities LLC purchased a new stake in shares of International Seaways during the third quarter worth $224,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of International Seaways in the fourth quarter valued at about $227,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Trading Down 0.7 %

Shares of INSW opened at $53.54 on Thursday. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $55.59. The firm has a market capitalization of $2.62 billion, a P/E ratio of 4.76 and a beta of -0.05. The firm has a 50-day moving average price of $52.69 and a 200 day moving average price of $49.62. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating 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 net margin of 51.92% and a return on equity of 32.03%. Sell-side analysts forecast that International Seaways, Inc. will post 9.42 EPS for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 8.97%. International Seaways’s payout ratio is 4.27%.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,684,443.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Lois K. Zabrocky sold 13,760 shares of the company’s stock in a transaction that occurred 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 directly owns 148,942 shares in the company, valued at approximately $7,874,563.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the completion of the sale, the chief financial officer now owns 69,010 shares of the company’s stock, valued at approximately $3,684,443.90. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 over the last quarter. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.