UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 9,925 Shares of International Seaways, Inc. (NYSE:INSW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in International Seaways, Inc. (NYSE:INSW) by 14.6% in the third quarter, HoldingsChannel reports. The firm owned 58,035 shares of the transportation company’s stock after selling 9,925 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in International Seaways were worth $2,992,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in INSW. FMR LLC boosted its position in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Millennium Management LLC purchased a new position in International Seaways in the second quarter valued at about $21,875,000. American Century Companies Inc. boosted its stake in 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 acquiring an additional 252,492 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of International Seaways during the 2nd quarter worth approximately $8,781,000. Finally, TrueMark Investments LLC purchased a new stake in shares of International Seaways during the 2nd quarter worth approximately $4,217,000. 67.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on INSW. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Buying and Selling at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the transaction, the chief executive officer now directly owns 153,475 shares of the company’s stock, valued at $7,554,039.50. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,200 shares of company stock worth $463,222. 1.90% of the stock is currently owned by company insiders.

International Seaways Trading Down 2.7 %

NYSE INSW opened at $34.96 on Friday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock’s 50-day simple moving average is $43.42 and its two-hundred day simple moving average is $50.80. International Seaways, Inc. has a twelve month low of $34.32 and a twelve month high of $65.94. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 3.38 and a beta of -0.10.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. During the same period last year, the business earned $1.99 earnings per share. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Research analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 15.10%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

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.