International Seaways, Inc. (NYSE:INSW) Holdings Lifted by Glenorchy Capital Ltd

Glenorchy Capital Ltd increased its holdings in International Seaways, Inc. (NYSE:INSW) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,328 shares of the transportation company’s stock after acquiring an additional 322 shares during the period. Glenorchy Capital Ltd owned about 0.10% of International Seaways worth $1,809,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG lifted its position in shares of International Seaways by 46.2% in the fourth quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company’s stock worth $1,257,000 after purchasing an additional 11,050 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in International Seaways in the 4th quarter valued at approximately $14,269,000. Banque Transatlantique SA purchased a new stake in International Seaways in the 4th quarter worth approximately $29,000. BNP Paribas Financial Markets boosted its stake in shares of International Seaways by 76.0% during the 4th quarter. BNP Paribas Financial Markets now owns 25,617 shares of the transportation company’s stock valued at $921,000 after buying an additional 11,064 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of International Seaways by 64.6% during the 4th quarter. Ameriprise Financial Inc. now owns 163,569 shares of the transportation company’s stock valued at $5,879,000 after acquiring an additional 64,167 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the transaction, the senior vice president now owns 50,453 shares of the company’s stock, valued at $1,684,625.67. The trade was a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,400 shares of company stock valued at $380,086. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of several recent research reports. SEB Equity Research set a $50.00 price objective on International Seaways in a report on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price target on shares of International Seaways in a research note on Thursday.

International Seaways Stock Up 3.2 %

International Seaways stock opened at $37.78 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The firm’s fifty day simple moving average is $33.40 and its 200-day simple moving average is $36.91. 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 announced its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $178.34 million during the quarter, compared to analysts’ expectations of $176.49 million. During the same quarter in the previous year, the firm earned $2.92 earnings per share. The business’s quarterly revenue was down 32.9% compared to the same quarter last year. Sell-side analysts forecast that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, June 12th. International Seaways’s payout ratio is 5.72%.

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.