Private Management Group Inc. Has $19.81 Million Position in International Seaways, Inc. (NYSE:INSW)

Private Management Group Inc. reduced its stake in International Seaways, Inc. (NYSE:INSW) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 435,567 shares of the transportation company’s stock after selling 26,738 shares during the period. Private Management Group Inc.’s holdings in International Seaways were worth $19,810,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in International Seaways in the 4th quarter worth approximately $4,137,000. Qube Research & Technologies Ltd lifted its holdings in International Seaways by 103.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock worth $1,991,000 after purchasing an additional 22,545 shares during the last quarter. Hosking Partners LLP lifted its holdings in International Seaways by 20.1% in the 3rd quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after purchasing an additional 161,643 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in International Seaways by 103.2% in the 3rd quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock worth $1,889,000 after purchasing an additional 21,320 shares during the last quarter. Finally, Barclays PLC lifted its holdings in International Seaways by 160.9% in the 3rd quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock worth $2,498,000 after purchasing an additional 34,242 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 16,240 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.02, for a total transaction of $844,804.80. Following the sale, the chief executive officer now directly owns 136,260 shares in the company, valued at $7,088,245.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Lois K. Zabrocky sold 16,240 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.02, for a total transaction of $844,804.80. Following the sale, the chief executive officer now directly owns 136,260 shares in the company, valued at $7,088,245.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were 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 owns 148,942 shares in the company, valued at $7,874,563.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,846 shares of company stock worth $3,073,978. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on INSW. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. Stifel Nicolaus lifted their price target on International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th.

International Seaways Stock Performance

NYSE INSW traded up $0.37 during trading on Tuesday, hitting $53.97. The company’s stock had a trading volume of 484,756 shares, compared to its average volume of 532,160. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $52.66 and a 200 day moving average price of $49.54. The firm has a market cap of $2.64 billion, a P/E ratio of 4.79 and a beta of -0.05. International Seaways, Inc. has a 52 week low of $34.77 and a 52 week high of $55.59.

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

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio is presently 4.27%.

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.