8,016 Shares in International Seaways, Inc. (NYSE:INSW) Acquired by PFG Investments LLC

PFG Investments LLC bought a new position in shares of International Seaways, Inc. (NYSE:INSW) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,016 shares of the transportation company’s stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSW. Donald Smith & CO. Inc. raised its holdings in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after purchasing an additional 318,962 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of International Seaways in the fourth quarter valued at $14,399,000. Vanguard Group Inc. increased its holdings in shares of International Seaways by 5.3% in the third quarter. Vanguard Group Inc. now owns 3,581,058 shares of the transportation company’s stock valued at $161,148,000 after buying an additional 181,287 shares in the last quarter. Hosking Partners LLP increased its holdings in shares of International Seaways by 20.1% in the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock valued at $43,404,000 after buying an additional 161,643 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of International Seaways by 57.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after buying an additional 147,740 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Trading Down 0.5 %

NYSE INSW traded down $0.25 on Tuesday, hitting $55.29. 660,480 shares of the stock were exchanged, compared to its average volume of 533,605. International Seaways, Inc. has a 52-week low of $34.77 and a 52-week high of $56.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 4.91 and a beta of -0.05. The company’s 50-day moving average price is $52.92 and its two-hundred day moving average price is $49.97.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. Research analysts predict that International Seaways, Inc. will post 9.33 EPS for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 8.68%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio is currently 4.27%.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the transaction, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Lois K. Zabrocky sold 13,760 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the transaction, the chief executive officer now directly owns 148,942 shares in the company, valued at approximately $7,874,563.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the transaction, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The disclosure for this sale can be found here. Insiders have sold a total of 58,846 shares of company stock worth $3,073,978 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.