3,818 Shares in International Seaways, Inc. (NYSE:INSW) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new stake in International Seaways, Inc. (NYSE:INSW) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,818 shares of the transportation company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also modified their holdings of INSW. Bfsg LLC acquired a new position in shares of International Seaways in the 4th quarter valued at approximately $167,000. U S Global Investors Inc. boosted its stake in International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after acquiring an additional 2,500 shares during the last quarter. Cim LLC acquired a new position in International Seaways during the 4th quarter worth $192,000. Peterson Wealth Services bought a new stake in shares of International Seaways in the 4th quarter worth about $203,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of International Seaways in the 4th quarter valued at about $227,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Trading Down 1.1 %

NYSE:INSW opened at $59.32 on Friday. The firm has a market capitalization of $2.93 billion, a P/E ratio of 5.54 and a beta of -0.04. The business has a 50 day simple moving average of $59.80 and a 200 day simple moving average of $54.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. International Seaways, Inc. has a 12-month low of $35.31 and a 12-month high of $65.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.54. The company had revenue of $274.40 million during the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 earnings per share. Equities research analysts predict that International Seaways, Inc. will post 10.3 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date of this dividend was Wednesday, June 12th. This is a boost from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s payout ratio is 4.49%.

Analysts Set New Price Targets

A number of research firms recently commented on INSW. Deutsche Bank Aktiengesellschaft lifted their price target on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. Stifel Nicolaus lifted their price objective on shares of International Seaways from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $63.75.

Insider Transactions at International Seaways

In related news, CAO James D. Small III sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $55.20, for a total value of $414,000.00. Following the sale, the chief accounting officer now directly owns 55,138 shares in the company, valued at approximately $3,043,617.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Adewale Oshodi sold 6,212 shares of International Seaways stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $62.06, for a total transaction of $385,516.72. Following the sale, the vice president now directly owns 6,326 shares in the company, valued at $392,591.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO James D. Small III sold 7,500 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $55.20, for a total transaction of $414,000.00. Following the completion of the transaction, the chief accounting officer now owns 55,138 shares of the company’s stock, valued at approximately $3,043,617.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,879 shares of company stock worth $4,336,583. Company insiders own 1.90% of the company’s stock.

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.