International Assets Investment Management LLC Makes New Investment in International Seaways, Inc. (NYSE:INSW)

International Assets Investment Management LLC bought a new position in International Seaways, Inc. (NYSE:INSW) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 90,960 shares of the transportation company’s stock, valued at approximately $4,137,000.

Several other institutional investors also recently modified their holdings of INSW. Vanguard Group Inc. grew its position in shares of International Seaways by 5.3% during the 3rd 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 increased its holdings in International Seaways by 20.1% in the 3rd quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after acquiring an additional 161,643 shares during the last quarter. American Century Companies Inc. raised its stake in International Seaways by 38.1% in the 3rd 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. Allspring Global Investments Holdings LLC lifted its holdings in International Seaways by 126.6% during 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 purchasing an additional 81,377 shares during the last quarter. Finally, F M Investments LLC purchased a new position in shares of International Seaways in the third quarter worth about $2,331,000. 67.29% of the stock is owned by institutional investors.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the transaction, the chief financial officer now owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’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 value of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares in the company, valued at approximately $4,361,927.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now owns 26,056 shares in the company, valued at $1,334,588.32. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock valued at $3,074,618 in the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INSW. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Stifel Nicolaus boosted their price objective on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Stock Up 8.2 %

INSW opened at $61.29 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. International Seaways, Inc. has a one year low of $34.77 and a one year high of $61.55. The firm has a market capitalization of $3.00 billion, a P/E ratio of 5.45 and a beta of -0.05. The company has a fifty day moving average price of $53.52 and a 200-day moving average price of $50.41.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share 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 analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Equities research analysts expect that International Seaways, Inc. will post 9.33 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business 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. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 7.83%. International Seaways’s dividend payout ratio is presently 4.27%.

About International Seaways

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.