International Seaways, Inc. (NYSE:INSW) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 64.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,569 shares of the transportation company’s stock after acquiring an additional 64,167 shares during the quarter. Ameriprise Financial Inc. owned about 0.33% of International Seaways worth $5,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INSW. Larson Financial Group LLC acquired a new position in International Seaways during the fourth quarter worth about $37,000. Quarry LP boosted its holdings in International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares during the last quarter. R Squared Ltd acquired a new position in International Seaways in the 4th quarter valued at about $59,000. KBC Group NV boosted its holdings in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 653 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in International Seaways in the 4th quarter valued at about $69,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares of the company’s stock, valued at $6,223,445.62. This represents a 1.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 in the company, 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. In the last three months, insiders have sold 14,900 shares of company stock valued at $513,716. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on INSW shares. SEB Equity Research set a $50.00 target price on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th.

International Seaways Price Performance

International Seaways stock opened at $37.36 on Friday. The company’s 50 day simple moving average is $34.25 and its 200-day simple moving average is $36.50. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.61 and a beta of -0.01. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94. 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 (NYSE:INSW) last released its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.21. The business had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business’s revenue was down 32.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.92 EPS. As a group, equities research analysts expect that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.12 dividend. 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 dividend payout ratio (DPR) is 7.42%.

International Seaways Company 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.