International Seaways Inc. (NYSE:INSW) Holdings Decreased by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of International Seaways Inc. (NYSE:INSW) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,558 shares of the transportation company’s stock after selling 339 shares during the quarter. Amalgamated Bank’s holdings in International Seaways were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of International Seaways during the fourth quarter valued at $29,000. Larson Financial Group LLC purchased a new position in International Seaways in the fourth quarter valued at about $37,000. GAMMA Investing LLC grew its stake in International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 596 shares in the last quarter. Quarry LP grew its stake in International Seaways by 169.0% in the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in International Seaways by 87.3% in the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 738 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other news, SVP Derek G. Solon sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the completion of the sale, the senior vice president owned 55,893 shares in the company, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $37.00, for a total value of $37,000.00. Following the sale, the senior vice president owned 59,752 shares of the company’s stock, valued at approximately $2,210,824. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,500 shares of company stock worth $382,570. 2.00% of the stock is owned by corporate insiders.

International Seaways Stock Performance

Shares of NYSE INSW opened at $39.83 on Friday. The business’s 50-day moving average price is $38.04 and its two-hundred day moving average price is $36.36. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. International Seaways Inc. has a one year low of $27.20 and a one year high of $58.73. The company has a market capitalization of $1.97 billion, a P/E ratio of 6.16 and a beta of 0.05.

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, topping the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm’s revenue was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.92 EPS. Analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.21%. International Seaways’s dividend payout ratio (DPR) is presently 7.42%.

Analyst Ratings Changes

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

International Seaways 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.