Farther Finance Advisors LLC Trims Stock Position in International Seaways Inc. $INSW

Farther Finance Advisors LLC lessened its holdings in International Seaways Inc. (NYSE:INSW) by 25.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,441 shares of the transportation company’s stock after selling 2,881 shares during the period. Farther Finance Advisors LLC’s holdings in International Seaways were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of INSW. Millennium Management LLC lifted its holdings in shares of International Seaways by 68.5% in the fourth quarter. Millennium Management LLC now owns 60,163 shares of the transportation company’s stock valued at $2,162,000 after purchasing an additional 24,462 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of International Seaways by 89.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,919 shares of the transportation company’s stock valued at $3,950,000 after buying an additional 51,884 shares during the last quarter. GAMMA Investing LLC raised its position in shares of International Seaways by 6,709.9% in the first quarter. GAMMA Investing LLC now owns 38,612 shares of the transportation company’s stock valued at $12,820,000 after buying an additional 38,045 shares during the last quarter. Rhumbline Advisers raised its position in shares of International Seaways by 13.8% in the first quarter. Rhumbline Advisers now owns 136,422 shares of the transportation company’s stock valued at $4,529,000 after buying an additional 16,519 shares during the last quarter. Finally, Vest Financial LLC acquired a new position in shares of International Seaways in the first quarter valued at approximately $389,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 3,000 shares of the stock in a transaction 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 in the company, valued at $2,187,125.55. This represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total transaction of $77,240.00. Following the transaction, the chief executive officer owned 192,771 shares in the company, valued at $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock valued at $799,770. Corporate insiders own 2.00% of the company’s stock.

International Seaways Price Performance

International Seaways stock opened at $46.49 on Tuesday. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $54.84. The firm has a fifty day moving average of $44.38 and a 200-day moving average of $38.99. The firm has a market capitalization of $2.30 billion, a P/E ratio of 9.66 and a beta of 0.08. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. The company had revenue of $188.82 million during the quarter, compared to analyst estimates of $199.06 million. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The business’s quarterly revenue was down 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.37 earnings per share. As a group, analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th were paid a $0.12 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. International Seaways’s dividend payout ratio is 9.98%.

Analyst Ratings Changes

Separately, BTIG Research cut their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and an average target price of $53.50.

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.