Empowered Funds LLC Acquires 22,209 Shares of International Seaways Inc. $INSW

Empowered Funds LLC grew its holdings in shares of International Seaways Inc. (NYSE:INSW) by 8.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 296,331 shares of the transportation company’s stock after acquiring an additional 22,209 shares during the period. Empowered Funds LLC owned about 0.60% of International Seaways worth $10,810,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in International Seaways in the first quarter valued at $17,331,000. Encompass Capital Advisors LLC acquired a new position in International Seaways during the 1st quarter worth about $9,957,000. Nuveen LLC bought a new stake in shares of International Seaways in the 1st quarter valued at about $9,079,000. Baird Financial Group Inc. acquired a new stake in shares of International Seaways in the first quarter valued at about $6,965,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of International Seaways by 1,452.6% in the first quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company’s stock valued at $4,829,000 after buying an additional 136,076 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

INSW has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, BTIG Research decreased their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.67.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $44.69, for a total value of $44,690.00. Following the completion of the sale, the chief financial officer owned 64,502 shares of the company’s stock, valued at approximately $2,882,594.38. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 3,500 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the sale, the senior vice president owned 49,393 shares of the company’s stock, valued at $2,652,898.03. This trade represents a 6.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,500 shares of company stock valued at $1,583,345 over the last ninety days. Company insiders own 2.00% of the company’s stock.

International Seaways Price Performance

Shares of NYSE INSW opened at $54.68 on Wednesday. The firm’s 50-day moving average price is $48.32 and its 200-day moving average price is $43.01. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $54.95. The firm has a market capitalization of $2.70 billion, a P/E ratio of 11.37 and a beta of -0.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The firm had revenue of $84.82 million during the quarter. Equities research analysts anticipate 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 issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. International Seaways’s payout ratio is currently 10.93%.

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.