International Seaways, Inc. (NYSE:INSW) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp lifted its stake in International Seaways, Inc. (NYSE:INSW) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,583 shares of the transportation company’s stock after purchasing an additional 2,627 shares during the period. Stifel Financial Corp’s holdings in International Seaways were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in INSW. Blue Trust Inc. purchased a new position in International Seaways in the third quarter valued at about $41,000. EverSource Wealth Advisors LLC grew its holdings in shares of International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after acquiring an additional 305 shares during the period. KBC Group NV increased its stake in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares in the last quarter. Quarry LP raised its holdings in International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in International Seaways during the second quarter worth $157,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of research analyst reports. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to 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 related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $41.83, for a total value of $83,660.00. Following the sale, the chief executive officer now directly owns 151,475 shares of the company’s stock, valued at approximately $6,336,199.25. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the sale, the senior vice president now owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,200 shares of company stock worth $362,622. Insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

NYSE INSW opened at $36.24 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. International Seaways, Inc. has a fifty-two week low of $32.11 and a fifty-two week high of $65.94. The business has a fifty day moving average of $40.66 and a 200-day moving average of $49.08. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 3.50 and a beta of -0.10.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the previous year, the company posted $1.99 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, analysts predict that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.32 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 14.57%. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s payout ratio is presently 4.64%.

International Seaways 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.