Russell Investments Group Ltd. Acquires 91,710 Shares of International Seaways, Inc. (NYSE:INSW)

Russell Investments Group Ltd. grew its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 194.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,802 shares of the transportation company’s stock after acquiring an additional 91,710 shares during the quarter. Russell Investments Group Ltd.’s holdings in International Seaways were worth $6,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of INSW. SG Americas Securities LLC purchased a new stake in International Seaways in the third quarter valued at approximately $224,000. Raymond James & Associates bought a new position in shares of International Seaways in the 3rd quarter worth $274,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 buying an additional 1,683 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of International Seaways by 204.7% during the 3rd quarter. Mackenzie Financial Corp now owns 35,228 shares of the transportation company’s stock worth $1,509,000 after acquiring an additional 23,667 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of International Seaways by 126.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 145,638 shares of the transportation company’s stock worth $6,554,000 after acquiring an additional 81,377 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the business’s 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 transaction, the director now owns 19,098 shares in the company, valued at $1,013,912.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the director now owns 19,098 shares in the company, valued at approximately $1,013,912.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now owns 148,942 shares in the company, valued at $7,874,563.54. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock valued at $3,074,618 in the last quarter. Company insiders own 2.00% of the company’s stock.

International Seaways Stock Up 8.2 %

Shares of NYSE:INSW opened at $61.29 on Thursday. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $61.55. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $53.52 and its 200-day moving average price is $50.41. The stock has a market capitalization of $3.00 billion, a P/E ratio of 5.45 and a beta of -0.05.

International Seaways (NYSE:INSW) last announced its quarterly earnings results 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 return on equity of 32.03% and a net margin of 51.92%. On average, equities analysts anticipate that International Seaways, Inc. will post 9.33 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.20 per share. 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 currently 4.27%.

Wall Street Analyst Weigh In

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

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.