Algert Global LLC Has $3.56 Million Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Algert Global LLC lifted its position in International Seaways, Inc. (NYSE:INSW) by 919.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,269 shares of the transportation company’s stock after acquiring an additional 54,359 shares during the quarter. Algert Global LLC owned approximately 0.12% of International Seaways worth $3,564,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of International Seaways in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways in the 1st quarter worth $27,000. Headlands Technologies LLC grew its stake in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares in the last quarter. CWM LLC grew its stake in shares of International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after acquiring an additional 476 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of International Seaways in the 1st quarter worth $108,000. Institutional investors own 67.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now directly owns 16,109 shares of the company’s stock, valued at $792,079.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $51.19, for a total value of $51,190.00. Following the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares in the company, valued at $792,079.53. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $602,160 over the last quarter. 1.90% of the stock is currently owned by company insiders.

International Seaways Price Performance

Shares of NYSE:INSW opened at $51.56 on Tuesday. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.55 billion, a PE ratio of 4.82 and a beta of -0.07. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The company has a 50-day moving average price of $51.22 and a two-hundred day moving average price of $55.31.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The business 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%. International Seaways’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.12 EPS. Equities analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given 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 yield of 0.93%. International Seaways’s dividend payout ratio is presently 4.49%.

Analysts Set New Price Targets

INSW has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $66.00 price target 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.