International Seaways, Inc. (NYSE:INSW) Stake Lifted by F M Investments LLC

F M Investments LLC increased its stake in shares of International Seaways, Inc. (NYSE:INSW) by 26.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 65,700 shares of the transportation company’s stock after acquiring an additional 13,900 shares during the period. International Seaways makes up about 1.7% of F M Investments LLC’s holdings, making the stock its 20th largest holding. F M Investments LLC’s holdings in International Seaways were worth $2,988,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in International Seaways by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,581,058 shares of the transportation company’s stock worth $161,148,000 after acquiring an additional 181,287 shares during the period. Hosking Partners LLP boosted its position in International Seaways by 20.1% during the 3rd quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after acquiring an additional 161,643 shares during the period. American Century Companies Inc. boosted its position in International Seaways by 38.1% during the 3rd quarter. American Century Companies Inc. now owns 423,943 shares of the transportation company’s stock worth $19,077,000 after acquiring an additional 116,923 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in International Seaways during the 4th quarter worth $14,399,000. Finally, Brandywine Global Investment Management LLC boosted its position in International Seaways by 15.8% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 148,639 shares of the transportation company’s stock worth $6,689,000 after acquiring an additional 20,272 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares of the company’s stock, valued at approximately $4,361,927.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the sale, the chief financial officer now directly owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,846 shares of company stock valued at $3,073,978. Corporate insiders own 2.00% of the company’s stock.

International Seaways Price Performance

INSW stock traded up $0.37 during trading hours on Tuesday, hitting $53.97. 484,756 shares of the stock traded hands, compared to its average volume of 532,160. The stock has a 50-day simple moving average of $52.66 and a 200 day simple moving average of $49.54. International Seaways, Inc. has a one year low of $34.77 and a one year high of $55.59. The company has a market cap of $2.64 billion, a P/E ratio of 4.79 and a beta of -0.05. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The business had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. Equities analysts forecast that International Seaways, Inc. will post 9.42 earnings per share for the current year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.89%. International Seaways’s dividend payout ratio (DPR) is 4.27%.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Stifel Nicolaus raised their target price on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday.

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.