International Seaways Inc. $INSW Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of International Seaways Inc. (NYSE:INSW) by 41.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,152 shares of the transportation company’s stock after purchasing an additional 65,496 shares during the quarter. Invesco Ltd. owned approximately 0.45% of International Seaways worth $7,409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in International Seaways during the 4th quarter worth $29,000. GAMMA Investing LLC boosted its position in International Seaways by 105.1% during the 1st 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. Quarry LP boosted its position in International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after acquiring an additional 852 shares during the period. Blue Trust Inc. boosted its position in International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock worth $53,000 after acquiring an additional 738 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in International Seaways during the 1st quarter worth $55,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price target on shares of International Seaways in a research report on Thursday, May 8th. BTIG Research dropped 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 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 stock. According to data from MarketBeat.com, International Seaways has a consensus rating of “Buy” and a consensus target price of $53.50.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $44.69, for a total transaction of $44,690.00. Following the transaction, the chief financial officer directly owned 64,502 shares of the company’s stock, valued at approximately $2,882,594.38. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James D. Small III sold 5,000 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $41.35, for a total value of $206,750.00. Following the transaction, the chief accounting officer directly owned 69,292 shares in the company, valued at $2,865,224.20. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock valued at $804,950 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

International Seaways Stock Down 0.9%

Shares of International Seaways stock opened at $44.34 on Tuesday. The stock’s fifty day moving average is $40.43 and its 200-day moving average is $37.09. The firm has a market capitalization of $2.19 billion, a PE ratio of 9.22 and a beta of 0.05. 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 Inc. has a 12-month low of $27.20 and a 12-month high of $54.84.

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

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways’s payout ratio is presently 9.98%.

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.