International Seaways, Inc. (NYSE:INSW) Stake Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 62.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 791 shares of the transportation company’s stock after buying an additional 305 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in International Seaways were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of International Seaways by 20.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,591 shares of the transportation company’s stock valued at $1,027,000 after purchasing an additional 3,844 shares during the period. Lighthouse Investment Partners LLC lifted its position in International Seaways by 73.3% in the 4th quarter. Lighthouse Investment Partners LLC now owns 64,219 shares of the transportation company’s stock worth $2,921,000 after buying an additional 27,153 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of International Seaways by 20.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after acquiring an additional 139,569 shares in the last quarter. GeoSphere Capital Management LLC acquired a new position in shares of International Seaways in the fourth quarter worth $2,501,000. Finally, Cim LLC purchased a new stake in shares of International Seaways during the fourth quarter worth $192,000. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Down 0.4 %

INSW stock opened at $51.82 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The company has a 50-day moving average of $51.36 and a two-hundred day moving average of $55.27. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 4.84 and a beta of -0.07. International Seaways, Inc. has a 52-week low of $40.68 and a 52-week high of $65.94.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The company had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm posted $3.12 EPS. As a group, equities research analysts anticipate that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. International Seaways’s payout ratio is presently 4.49%.

Insiders Place Their Bets

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the sale, the chief financial officer now owns 38,849 shares in the company, valued at approximately $2,174,378.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the sale, the chief financial officer now directly owns 38,849 shares in the company, valued at approximately $2,174,378.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares in the company, valued at approximately $7,779,265. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,000 shares of company stock valued at $660,990. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus upped their target price on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a research report on Wednesday, August 7th.

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.