BNP Paribas Financial Markets Purchases 11,064 Shares of International Seaways, Inc. (NYSE:INSW)

BNP Paribas Financial Markets increased its position in shares of International Seaways, Inc. (NYSE:INSW) by 76.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,617 shares of the transportation company’s stock after purchasing an additional 11,064 shares during the period. BNP Paribas Financial Markets owned approximately 0.05% of International Seaways worth $921,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INSW. Barclays PLC lifted its stake in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of International Seaways by 1,677.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company’s stock valued at $3,987,000 after buying an additional 104,704 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of International Seaways in the fourth quarter worth approximately $735,000. KBC Group NV lifted its stake in shares of International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after acquiring an additional 653 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of International Seaways during the 4th quarter worth approximately $59,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Stock Performance

Shares of NYSE:INSW opened at $37.51 on Thursday. The firm’s 50 day simple moving average is $34.15 and its 200-day simple moving average is $36.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a one year low of $27.20 and a one year high of $65.94. The firm has a market cap of $1.85 billion, a PE ratio of 3.62 and a beta of -0.01.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to analysts’ expectations of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways’s revenue was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 earnings per share. As a group, equities analysts predict that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways’s payout ratio is 7.42%.

Insider Activity

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now directly owns 50,453 shares in the company, valued at approximately $1,684,625.67. The trade was a 8.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at approximately $1,892,824.28. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,900 shares of company stock worth $513,716. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the topic of several research analyst reports. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th.

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.