International Seaways, Inc. (NYSE:INSW) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in shares of International Seaways, Inc. (NYSE:INSW) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 70,656 shares of the transportation company’s stock after purchasing an additional 1,247 shares during the period. Federated Hermes Inc.’s holdings in International Seaways were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of INSW. Vanguard Group Inc. lifted its holdings in International Seaways by 5.3% in the third quarter. Vanguard Group Inc. now owns 3,581,058 shares of the transportation company’s stock valued at $161,148,000 after acquiring an additional 181,287 shares during the period. Hosking Partners LLP lifted its holdings in International Seaways by 20.1% in the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock valued at $43,404,000 after acquiring an additional 161,643 shares during the period. American Century Companies Inc. lifted its holdings in International Seaways by 38.1% in the third quarter. American Century Companies Inc. now owns 423,943 shares of the transportation company’s stock valued at $19,077,000 after acquiring an additional 116,923 shares during the period. International Assets Investment Management LLC acquired a new stake in International Seaways in the fourth quarter valued at $4,137,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of International Seaways by 126.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 145,638 shares of the transportation company’s stock valued at $6,554,000 after buying an additional 81,377 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Stifel Nicolaus lifted 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.

Insiders Place Their Bets

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the sale, the director now directly owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated 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 directly owns 69,010 shares of the company’s stock, valued at approximately $3,684,443.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the transaction, the director now directly owns 19,098 shares in the company, valued at $1,013,912.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,846 shares of company stock valued at $3,073,978. Insiders own 2.00% of the company’s stock.

International Seaways Trading Up 1.0 %

International Seaways stock opened at $55.13 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of 4.90 and a beta of -0.05. The stock has a 50-day moving average price of $52.78 and a 200 day moving average price of $49.75. International Seaways, Inc. has a 52 week low of $34.77 and a 52 week high of $55.59. 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 issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $239.36 million. Equities research analysts predict that International Seaways, Inc. will post 9.33 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 8.71%. The ex-dividend date was Wednesday, March 13th. International Seaways’s payout ratio is 4.27%.

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.