Victory Capital Management Inc. Sells 25,655 Shares of International Seaways, Inc. (NYSE:INSW)

Victory Capital Management Inc. lessened its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,021,768 shares of the transportation company’s stock after selling 25,655 shares during the quarter. Victory Capital Management Inc.’s holdings in International Seaways were worth $46,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bfsg LLC acquired a new position in International Seaways during the fourth quarter valued at approximately $167,000. U S Global Investors Inc. grew its holdings in International Seaways by 144.5% during the fourth 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. Peterson Wealth Services acquired a new position in International Seaways during the fourth quarter valued at approximately $203,000. SG Americas Securities LLC acquired a new position in International Seaways during the third quarter valued at approximately $224,000. Finally, Capricorn Fund Managers Ltd acquired a new position in International Seaways during the fourth quarter valued at approximately $227,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Up 0.8 %

Shares of International Seaways stock opened at $56.17 on Monday. The company’s fifty day simple moving average is $53.16 and its 200-day simple moving average is $50.17. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 4.99 and a beta of -0.05. 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, Inc. has a 1 year low of $34.77 and a 1 year high of $56.77.

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, topping the consensus estimate of $2.08 by $0.10. The business had revenue of $250.73 million for the quarter, compared to the consensus estimate 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 expect that International Seaways, Inc. will post 9.33 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.55%. International Seaways’s payout ratio is presently 4.27%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at $7,874,563.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Lois K. Zabrocky sold 16,240 shares of International Seaways stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the transaction, the chief executive officer now directly owns 136,260 shares of the company’s stock, valued at $7,088,245.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the transaction, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at $7,874,563.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,846 shares of company stock valued at $3,074,618. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on INSW shares. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target on shares of International Seaways in a report on Thursday, February 29th. Stifel Nicolaus raised their price objective on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th.

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.