International Seaways, Inc. (NYSE:INSW) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,398 shares of the transportation company’s stock after acquiring an additional 697 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in International Seaways were worth $1,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after acquiring an additional 286,295 shares during the period. American Century Companies Inc. increased its stake in shares of International Seaways by 25.7% in the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares during the period. Renaissance Technologies LLC increased its stake in shares of International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock valued at $52,184,000 after purchasing an additional 44,200 shares during the period. Victory Capital Management Inc. increased its stake in shares of International Seaways by 4.1% in the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock valued at $50,482,000 after purchasing an additional 33,712 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of International Seaways by 57.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after purchasing an additional 147,740 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

INSW has been the topic of several analyst reports. Stifel Nicolaus raised their price target on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $68.00.

International Seaways Trading Down 0.2 %

International Seaways stock opened at $51.91 on Friday. The company has a 50 day moving average price of $50.77 and a 200 day moving average price of $55.28. International Seaways, Inc. has a 52 week low of $42.08 and a 52 week high of $65.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 4.94 and a beta of -0.08.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same period in the prior year, the business posted $3.12 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Wednesday, September 11th. International Seaways’s dividend payout ratio (DPR) is currently 4.57%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction 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 completion of the sale, the chief financial officer now owns 38,849 shares of the company’s stock, valued at $2,174,378.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at $7,779,265. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 38,849 shares in the company, valued at $2,174,378.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock valued at $653,400 in the last quarter. Company insiders own 1.90% of the company’s stock.

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.