Donald Smith & CO. Inc. Has $25.87 Million Stake in International Seaways Inc. $INSW

Donald Smith & CO. Inc. boosted its position in shares of International Seaways Inc. (NYSE:INSW) by 43.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,036 shares of the transportation company’s stock after acquiring an additional 216,325 shares during the quarter. Donald Smith & CO. Inc. owned 1.44% of International Seaways worth $25,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 601.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 1,293 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,542 shares during the period. Blue Trust Inc. raised its stake in International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after buying an additional 289 shares during the period. GAMMA Investing LLC lifted its position in shares of International Seaways by 193.4% in the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock valued at $124,000 after buying an additional 2,249 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of International Seaways by 25.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,838 shares of the transportation company’s stock worth $140,000 after acquiring an additional 767 shares during the period. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Pareto Securities cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

International Seaways Trading Down 1.1%

Shares of International Seaways stock opened at $51.07 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50-day moving average of $49.64 and a 200-day moving average of $44.34. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $55.18. The stock has a market cap of $2.52 billion, a PE ratio of 11.63 and a beta of -0.20.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. The business had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%. As a group, sell-side analysts forecast that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 9th. International Seaways’s payout ratio is 10.93%.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $53.58, for a total transaction of $53,580.00. Following the sale, the chief financial officer owned 71,734 shares of the company’s stock, valued at $3,843,507.72. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, November 17th. The shares were sold at an average price of $53.82, for a total value of $107,640.00. Following the completion of the transaction, the chief executive officer directly owned 184,421 shares of the company’s stock, valued at $9,925,538.22. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 32,500 shares of company stock worth $1,699,875. 2.00% of the stock is owned by corporate insiders.

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.