International Seaways, Inc. (NYSE:INSW) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its stake in International Seaways, Inc. (NYSE:INSW) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,300 shares of the transportation company’s stock after purchasing an additional 3,700 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in International Seaways were worth $1,556,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Banque Transatlantique SA acquired a new position in International Seaways during the fourth quarter worth about $29,000. Larson Financial Group LLC acquired a new position in International Seaways during the fourth quarter worth about $37,000. Quarry LP boosted its position in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after acquiring an additional 852 shares during the last quarter. R Squared Ltd acquired a new position in International Seaways during the fourth quarter worth about $59,000. Finally, KBC Group NV boosted its position in International Seaways by 60.2% during the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after acquiring an additional 653 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INSW. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and set a $48.00 price target on shares of International Seaways in a research report on Thursday, May 8th.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer now directly owns 198,771 shares of the company’s stock, valued at $6,293,089.86. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of International Seaways stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the transaction, the senior vice president now directly owns 55,893 shares in the company, valued at $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,900 shares of company stock valued at $437,416 over the last ninety days. Company insiders own 1.90% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $38.33 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm’s 50-day moving average is $33.73 and its two-hundred day moving average is $36.73. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $65.94. The company has a market capitalization of $1.89 billion, a PE ratio of 3.70 and a beta of -0.01.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. During the same period in the previous year, the firm earned $2.92 earnings per share. International Seaways’s quarterly revenue was down 32.9% compared to the same quarter last year. Analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways’s dividend payout ratio (DPR) is presently 7.42%.

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.