Vanguard Group Inc. Grows Position in International Seaways, Inc. (NYSE:INSW)

Vanguard Group Inc. grew its stake in International Seaways, Inc. (NYSE:INSW) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,700,058 shares of the transportation company’s stock after acquiring an additional 119,000 shares during the quarter. Vanguard Group Inc. owned about 0.08% of International Seaways worth $168,279,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bfsg LLC acquired a new position in International Seaways in the 4th quarter valued at $167,000. Cim LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at $192,000. U S Global Investors Inc. grew its position in shares of International Seaways by 144.5% in the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,500 shares during the period. Peterson Wealth Services acquired a new position in International Seaways in the fourth quarter valued at $203,000. Finally, Capricorn Fund Managers Ltd purchased a new position in International Seaways during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Up 0.4 %

INSW opened at $60.22 on Thursday. International Seaways, Inc. has a 1 year low of $35.51 and a 1 year high of $65.94. The firm has a 50 day moving average price of $60.29 and a 200 day moving average price of $54.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. The company has a market cap of $2.97 billion, a PE ratio of 5.63 and a beta of -0.06.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The company had revenue of $274.40 million during the quarter, compared to analyst estimates of $249.12 million. During the same quarter in the prior year, the business earned $3.30 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Sell-side analysts expect that International Seaways, Inc. will post 10.3 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 11.62%. The ex-dividend date was Wednesday, June 12th. This is a boost from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s payout ratio is currently 4.49%.

Insider Activity at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $54.87, for a total transaction of $54,870.00. Following the transaction, the chief financial officer now directly owns 76,849 shares of the company’s stock, valued at $4,216,704.63. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Adewale Oshodi sold 6,212 shares of International Seaways stock in a transaction on Friday, May 10th. The shares were sold at an average price of $62.06, for a total value of $385,516.72. Following the completion of the sale, the vice president now owns 6,326 shares in the company, valued at $392,591.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $54.87, for a total transaction of $54,870.00. Following the transaction, the chief financial officer now directly owns 76,849 shares of the company’s stock, valued at $4,216,704.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,879 shares of company stock worth $4,342,023. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INSW has been the subject of a number of research analyst reports. StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus lifted their price target on shares of International Seaways from $66.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, International Seaways presently has an average rating of “Buy” and a consensus price target of $63.75.

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.