HighTower Advisors LLC Has $1.27 Million Stock Holdings in International Seaways Inc. $INSW

HighTower Advisors LLC grew its position in shares of International Seaways Inc. (NYSE:INSW) by 42.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,308 shares of the transportation company’s stock after purchasing an additional 11,430 shares during the quarter. HighTower Advisors LLC owned approximately 0.08% of International Seaways worth $1,272,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Glenorchy Capital Ltd boosted its stake in shares of International Seaways by 0.6% during the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company’s stock valued at $1,809,000 after purchasing an additional 322 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of International Seaways by 2.8% in the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company’s stock worth $457,000 after acquiring an additional 370 shares during the period. Arizona State Retirement System lifted its stake in shares of International Seaways by 3.9% in the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock worth $398,000 after acquiring an additional 455 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of International Seaways by 30.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company’s stock worth $88,000 after acquiring an additional 564 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock worth $39,000 after acquiring an additional 596 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INSW has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th. BTIG Research cut their price objective on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, International Seaways presently has a consensus rating of “Buy” and an average price target of $53.50.

International Seaways Trading Down 0.9%

NYSE INSW opened at $44.34 on Tuesday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 9.22 and a beta of 0.05. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $54.84. The business has a 50 day moving average price of $40.43 and a 200-day moving average price of $37.09. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. The firm had revenue of $188.82 million during the quarter, compared to the consensus estimate of $199.06 million. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The company’s quarterly revenue was down 24.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.37 earnings per share. As a group, equities analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.1%. International Seaways’s payout ratio is currently 9.98%.

Insider Activity

In other news, SVP Derek G. Solon sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total transaction of $124,050.00. Following the completion of the sale, the senior vice president owned 52,893 shares in the company, valued at $2,187,125.55. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $40.21, for a total value of $40,210.00. Following the sale, the senior vice president owned 58,752 shares of the company’s stock, valued at approximately $2,362,417.92. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $804,950. Corporate insiders own 2.00% of the company’s stock.

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.