Moors & Cabot Inc. Has $238,000 Holdings in International Seaways Inc. $INSW

Moors & Cabot Inc. lowered its stake in shares of International Seaways Inc. (NYSE:INSW) by 64.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,514 shares of the transportation company’s stock after selling 11,936 shares during the quarter. Moors & Cabot Inc.’s holdings in International Seaways were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of INSW. Picton Mahoney Asset Management acquired a new stake in shares of International Seaways in the 1st quarter valued at approximately $55,000. PNC Financial Services Group Inc. increased its stake in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 1,542 shares in the last quarter. Blue Trust Inc. increased its stake in International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in International Seaways by 35.3% in the first quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the transportation company’s stock worth $102,000 after purchasing an additional 801 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of International Seaways by 193.4% during the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock worth $124,000 after purchasing an additional 2,249 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Up 1.7%

Shares of INSW stock opened at $53.24 on Monday. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $53.90. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $47.29 and a 200-day moving average of $42.04. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 11.07 and a beta of -0.02.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The company had revenue of $84.82 million during the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. As a group, equities research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 9th. International Seaways’s dividend payout ratio is currently 10.93%.

Insider Transactions at International Seaways

In related news, SVP Derek G. Solon sold 3,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $41.35, for a total transaction of $124,050.00. Following the completion of the transaction, the senior vice president directly owned 52,893 shares in the company, valued at approximately $2,187,125.55. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $49.08, for a total value of $98,160.00. Following the completion of the sale, the chief executive officer directly owned 188,771 shares in the company, valued at approximately $9,264,880.68. This represents a 1.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,000 shares of company stock valued at $737,320 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INSW shares. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. BTIG Research lowered their price target on International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, International Seaways has an average rating of “Moderate Buy” and a consensus target price of $52.67.

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.