Bfsg LLC Takes $167,000 Position in International Seaways, Inc. (NYSE:INSW)

Bfsg LLC purchased a new stake in International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,664 shares of the transportation company’s stock, valued at approximately $167,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in International Seaways by 5.3% during the third quarter. Vanguard Group Inc. now owns 3,581,058 shares of the transportation company’s stock worth $161,148,000 after acquiring an additional 181,287 shares during the last quarter. Hosking Partners LLP boosted its position in International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after acquiring an additional 161,643 shares during the last quarter. American Century Companies Inc. boosted its position in International Seaways by 38.1% during the third quarter. American Century Companies Inc. now owns 423,943 shares of the transportation company’s stock worth $19,077,000 after acquiring an additional 116,923 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in International Seaways during the fourth quarter worth approximately $14,399,000. Finally, Brandywine Global Investment Management LLC raised its stake in International Seaways by 15.8% during the third quarter. Brandywine Global Investment Management LLC now owns 148,639 shares of the transportation company’s stock worth $6,689,000 after purchasing an additional 20,272 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Trading Up 0.3 %

Shares of INSW stock traded up $0.16 during mid-day trading on Thursday, reaching $53.74. The company’s stock had a trading volume of 65,615 shares, compared to its average volume of 527,280. The company’s 50 day simple moving average is $52.71 and its 200-day simple moving average is $49.64. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $55.59. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.63 billion, a PE ratio of 4.78 and a beta of -0.05.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The business had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. On average, research analysts predict that International Seaways, Inc. will post 9.42 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 8.93%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is 4.27%.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the sale, the chief executive officer now owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other International Seaways news, CEO Lois K. Zabrocky sold 13,760 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at $4,117,521.21. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock valued at $3,073,978 in the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INSW. Stifel Nicolaus increased their price target on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th.

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.