Deutsche Bank AG Purchases 11,050 Shares of International Seaways, Inc. (NYSE:INSW)

Deutsche Bank AG boosted its holdings in International Seaways, Inc. (NYSE:INSW) by 46.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,974 shares of the transportation company’s stock after acquiring an additional 11,050 shares during the quarter. Deutsche Bank AG owned 0.07% of International Seaways worth $1,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INSW. Vanguard Group Inc. raised its position in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock valued at $171,043,000 after purchasing an additional 369,145 shares in the last quarter. American Century Companies Inc. grew its position in International Seaways by 9.8% during the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company’s stock valued at $58,681,000 after acquiring an additional 146,145 shares during the last quarter. Geode Capital Management LLC grew its position in International Seaways by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company’s stock valued at $34,084,000 after acquiring an additional 4,769 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of International Seaways by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock worth $16,662,000 after acquiring an additional 32,953 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of International Seaways by 1.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company’s stock worth $15,450,000 after acquiring an additional 7,325 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Performance

Shares of INSW stock opened at $37.36 on Monday. The company has a market capitalization of $1.84 billion, a P/E ratio of 3.61 and a beta of -0.01. International Seaways, Inc. has a fifty-two week low of $27.20 and a fifty-two week 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. The stock has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $36.39.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. During the same period in the previous year, the firm earned $2.92 earnings per share. The firm’s revenue for the quarter was down 32.9% on a year-over-year basis. Analysts expect that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given 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 payout ratio is 7.42%.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the sale, the senior vice president now directly owns 50,453 shares in the company, valued at approximately $1,684,625.67. This trade represents a 8.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the transaction, the senior vice president now owns 55,852 shares of the company’s stock, valued at approximately $1,892,824.28. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,900 shares of company stock worth $513,716. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th.

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.