International Seaways, Inc. (NYSE:INSW) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in shares of International Seaways, Inc. (NYSE:INSW) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,667 shares of the transportation company’s stock after selling 1,469 shares during the quarter. Sei Investments Co. owned about 0.15% of International Seaways worth $4,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INSW. EverSource Wealth Advisors LLC acquired a new stake in shares of International Seaways during the 1st quarter worth approximately $27,000. EdgeRock Capital LLC acquired a new stake in shares of International Seaways during the 2nd quarter worth approximately $28,000. Headlands Technologies LLC raised its position in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. CWM LLC raised its position in shares of International Seaways by 47.9% during the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in International Seaways in the 1st quarter valued at approximately $108,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on INSW shares. Stifel Nicolaus raised their target price on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research report on Wednesday, August 7th. Finally, StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Seaways presently has a consensus rating of “Buy” and a consensus price target of $68.00.

Insider Transactions at International Seaways

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the sale, the chief financial officer now owns 38,849 shares in the company, valued at $2,174,378.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock valued at $653,400 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

International Seaways Stock Performance

Shares of NYSE INSW opened at $51.40 on Wednesday. The stock has a fifty day moving average price of $51.22 and a two-hundred day moving average price of $55.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The firm has a market cap of $2.54 billion, a P/E ratio of 4.84 and a beta of -0.07. International Seaways, Inc. has a 1 year low of $40.68 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The firm had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.12 earnings per share. Research analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s dividend payout ratio is presently 4.49%.

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.