Russell Investments Group Ltd. Has $2.42 Million Stock Holdings in International Seaways Inc. $INSW

Russell Investments Group Ltd. lifted its holdings in shares of International Seaways Inc. (NYSE:INSW) by 27.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,999 shares of the transportation company’s stock after buying an additional 15,589 shares during the period. Russell Investments Group Ltd. owned about 0.15% of International Seaways worth $2,424,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Glenorchy Capital Ltd raised its holdings in shares of International Seaways by 0.6% in the 4th 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 during the period. SummerHaven Investment Management LLC raised its holdings in shares of International Seaways by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 370 shares during the period. Arizona State Retirement System raised its holdings in shares of International Seaways by 3.9% in the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 455 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of International Seaways by 30.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company’s stock valued at $88,000 after purchasing an additional 564 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of International Seaways by 105.1% in the 1st 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 during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In other news, SVP Derek G. Solon sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $41.35, for a total transaction of $124,050.00. Following the transaction, the senior vice president directly owned 52,893 shares of the company’s stock, valued at approximately $2,187,125.55. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,882,594.38. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $804,950. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BTIG Research dropped their target price on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $53.50.

International Seaways Trading Down 0.9%

Shares of NYSE:INSW opened at $44.34 on Tuesday. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $54.84. The stock has a market cap of $2.19 billion, a PE ratio of 9.22 and a beta of 0.05. The business has a 50 day moving average of $40.43 and a 200-day moving average 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 issued its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The company had revenue of $188.82 million during the quarter, compared to analysts’ expectations of $199.06 million. During the same quarter in the previous year, the company posted $2.37 earnings per share. The business’s revenue was down 24.0% on a year-over-year basis. 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 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 10th. International Seaways’s payout ratio is currently 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.