Raymond James & Associates Grows Position in International Seaways, Inc. (NYSE:INSW)

Raymond James & Associates raised its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 92.0% during the fourth quarter, HoldingsChannel reports. The firm owned 11,671 shares of the transportation company’s stock after purchasing an additional 5,593 shares during the period. Raymond James & Associates’ holdings in International Seaways were worth $531,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of INSW. Counterpoint Mutual Funds LLC bought a new position in shares of International Seaways in the 3rd quarter worth $113,000. Baker Ellis Asset Management LLC purchased a new stake in shares of International Seaways during the third quarter valued at about $220,000. SG Americas Securities LLC bought a new stake in shares of International Seaways in the 3rd quarter valued at about $224,000. Capricorn Fund Managers Ltd acquired a new stake in International Seaways during the 4th quarter worth about $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 valued at $294,000 after purchasing an additional 1,683 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Stock Up 1.9 %

International Seaways stock opened at $54.58 on Friday. The business’s 50-day moving average price is $52.71 and its 200 day moving average price is $49.64. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 4.85 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.

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 business had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. As a group, sell-side analysts anticipate that International Seaways, Inc. will post 9.42 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INSW. Stifel Nicolaus lifted their target price on 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 restated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was 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 $4,117,521.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the transaction, the director now directly owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares of the company’s stock, valued at $4,117,521.21. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock worth $3,073,978 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.