International Seaways, Inc. (NYSE:INSW) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,322 shares of the transportation company’s stock after purchasing an additional 878 shares during the period. Farther Finance Advisors LLC’s holdings in International Seaways were worth $377,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in International Seaways during the 4th quarter valued at approximately $29,000. Larson Financial Group LLC purchased a new stake in shares of International Seaways during the fourth quarter valued at $37,000. Quarry LP increased its position in shares of 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 acquiring an additional 852 shares during the period. Venturi Wealth Management LLC purchased a new position in International Seaways in the 4th quarter worth $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in International Seaways in the 4th quarter worth $82,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Down 2.9%

INSW stock opened at $38.76 on Tuesday. The company has a market capitalization of $1.91 billion, a P/E ratio of 3.74 and a beta of 0.05. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $60.99. The firm’s fifty day simple moving average is $35.81 and its 200-day simple moving average is $35.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.92 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Thursday, June 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways’s payout ratio is presently 7.42%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company’s stock, valued at approximately $1,854,884.98. This represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total value of $63,320.00. Following the completion of the sale, the chief executive officer now directly owns 198,771 shares in the company, valued at approximately $6,293,089.86. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,500 shares of company stock worth $300,720. Corporate insiders own 2.00% of the company’s stock.

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.