Donald Smith & CO. Inc. Has $73.40 Million Stock Position in International Seaways, Inc. (NYSE:INSW)

Donald Smith & CO. Inc. lifted its position in International Seaways, Inc. (NYSE:INSW) by 24.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,613,803 shares of the transportation company’s stock after acquiring an additional 318,962 shares during the quarter. International Seaways makes up about 1.9% of Donald Smith & CO. Inc.’s holdings, making the stock its 22nd biggest holding. Donald Smith & CO. Inc. owned 3.30% of International Seaways worth $73,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSW. Bfsg LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at $167,000. U S Global Investors Inc. lifted its stake in International Seaways by 144.5% in the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after acquiring an additional 2,500 shares in the last quarter. Peterson Wealth Services acquired a new stake in International Seaways during the 4th quarter worth about $203,000. Baker Ellis Asset Management LLC acquired a new position in shares of International Seaways in the 3rd quarter valued at about $220,000. Finally, SG Americas Securities LLC purchased a new stake in shares of International Seaways in the third quarter worth approximately $224,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INSW shares. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th. Stifel Nicolaus upped their price target on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday.

International Seaways Stock Up 0.7 %

Shares of International Seaways stock traded up $0.41 during midday trading on Monday, reaching $55.54. 590,847 shares of the company’s stock traded hands, compared to its average volume of 532,053. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 4.92 and a beta of -0.05. International Seaways, Inc. has a 52 week low of $34.77 and a 52 week high of $55.67. The company’s 50 day simple moving average is $52.78 and its 200 day simple moving average is $49.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Equities analysts expect that International Seaways, Inc. will post 9.33 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. Investors of record on Thursday, March 14th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 8.64%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio is currently 4.27%.

Insider Buying and Selling

In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.22, for a total transaction of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares in the company, valued at $1,334,588.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the sale, the director now owns 26,056 shares in the company, valued at $1,334,588.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 16,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $51.59, for a total transaction of $825,440.00. Following the completion of the sale, the chief financial officer now owns 67,956 shares in the company, valued at $3,505,850.04. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock worth $3,073,978 in the last quarter. 2.00% 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.