SG Americas Securities LLC Takes $735,000 Position in International Seaways, Inc. (NYSE:INSW)

SG Americas Securities LLC bought a new stake in shares of International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,439 shares of the transportation company’s stock, valued at approximately $735,000.

Several other hedge funds have also recently made changes to their positions in INSW. FMR LLC grew its stake 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 period. Millennium Management LLC purchased a new stake in International Seaways in the second quarter worth $21,875,000. Barclays PLC grew its stake in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in International Seaways in the second quarter worth $8,781,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in International Seaways in the third quarter worth $6,168,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INSW has been the topic of several analyst reports. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Price Performance

Shares of International Seaways stock opened at $37.46 on Thursday. The stock has a 50 day moving average of $37.29 and a 200 day moving average of $45.42. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The firm has a market cap of $1.84 billion, a PE ratio of 3.62 and a beta of -0.10. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The business had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. During the same period last year, the company earned $1.99 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, research analysts expect that International Seaways, Inc. will post 8.14 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.10%. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the transaction, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $39.54, for a total value of $39,540.00. Following the transaction, the senior vice president now owns 50,803 shares in the company, valued at approximately $2,008,750.62. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,200 shares of company stock worth $204,962. 1.90% of the stock is currently owned by company insiders.

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.