Readystate Asset Management LP Invests $459,000 in International Seaways Inc. (NYSE:INSW)

Readystate Asset Management LP bought a new stake in International Seaways Inc. (NYSE:INSWFree Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,831 shares of the transportation company’s stock, valued at approximately $459,000.

A number of other large investors have also recently made changes to their positions in the company. Glenorchy Capital Ltd lifted its position in International Seaways by 0.6% during the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company’s stock worth $1,809,000 after acquiring an additional 322 shares during the period. SummerHaven Investment Management LLC lifted its position in International Seaways by 2.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company’s stock worth $457,000 after acquiring an additional 370 shares during the period. Arizona State Retirement System lifted its position in International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock worth $398,000 after acquiring an additional 455 shares during the period. Tower Research Capital LLC TRC lifted its position in International Seaways by 30.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company’s stock worth $88,000 after acquiring an additional 564 shares during the period. Finally, GAMMA Investing LLC lifted its position in International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock worth $39,000 after acquiring an additional 596 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Performance

International Seaways stock opened at $40.54 on Thursday. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $58.04. The stock has a fifty day moving average of $38.40 and a two-hundred day moving average of $36.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 6.27 and a beta of 0.05.

International Seaways (NYSE:INSWGet Free Report) last posted its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The business had revenue of $178.34 million for the quarter, compared to analysts’ expectations of $176.49 million. During the same quarter last year, the firm earned $2.92 earnings per share. The business’s revenue was down 32.9% on a year-over-year basis. On average, analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways’s dividend payout ratio (DPR) is 7.42%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th.

Check Out Our Latest Stock Analysis on International Seaways

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the sale, the senior vice president owned 55,893 shares in the company, valued at $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total value of $77,240.00. Following the transaction, the chief executive officer directly owned 192,771 shares of the company’s stock, valued at $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock worth $473,730 over the last quarter. 2.00% of the stock is owned by corporate insiders.

International Seaways Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

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