International Seaways Inc. $INSW Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in International Seaways Inc. (NYSE:INSW) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,006,390 shares of the transportation company’s stock after buying an additional 6,076 shares during the quarter. Geode Capital Management LLC owned approximately 2.04% of International Seaways worth $36,718,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management purchased a new stake in International Seaways in the 1st quarter worth approximately $55,000. PNC Financial Services Group Inc. lifted its stake in shares of International Seaways by 550.7% in the 1st 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 during the period. Blue Trust Inc. boosted its holdings in International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after buying an additional 289 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 buying an additional 2,249 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in International Seaways by 25.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,838 shares of the transportation company’s stock valued at $140,000 after buying an additional 767 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. BTIG Research cut their price target on International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.67.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $53.58, for a total transaction of $53,580.00. Following the completion of the sale, the chief financial officer owned 71,734 shares of the company’s stock, valued at approximately $3,843,507.72. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 3,500 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the completion of the sale, the senior vice president owned 49,393 shares of the company’s stock, valued at approximately $2,652,898.03. The trade was a 6.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,500 shares of company stock worth $1,699,875 over the last three months. 2.00% of the stock is owned by corporate insiders.

International Seaways Price Performance

NYSE:INSW opened at $53.19 on Thursday. The stock has a 50 day moving average of $49.04 and a two-hundred day moving average of $43.68. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $55.18. The firm has a market cap of $2.63 billion, a P/E ratio of 11.06 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 quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share (EPS) for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The firm had revenue of $84.82 million during the quarter. On average, analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. International Seaways’s dividend payout ratio is presently 10.93%.

International Seaways 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.