Baker Ellis Asset Management LLC Acquires Shares of 4,000 International Seaways, Inc. (NYSE:INSW)

Baker Ellis Asset Management LLC acquired a new stake in International Seaways, Inc. (NYSE:INSW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,000 shares of the transportation company’s stock, valued at approximately $213,000.

A number of other institutional investors also recently added to or reduced their stakes in INSW. Donald Smith & CO. Inc. boosted its holdings in International Seaways by 24.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after purchasing an additional 318,962 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of International Seaways during the 4th quarter worth approximately $14,399,000. Vanguard Group Inc. boosted its stake in shares of International Seaways by 5.3% during the 3rd 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of International Seaways by 57.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock worth $18,367,000 after acquiring an additional 147,740 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of International Seaways by 20.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after acquiring an additional 139,569 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Seaways news, CAO James D. Small III sold 7,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 55,138 shares in the company, valued at approximately $3,043,617.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now owns 69,010 shares of the company’s stock, valued at $3,684,443.90. The disclosure for this sale can be found here. In the last three months, insiders sold 70,879 shares of company stock worth $4,336,583. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INSW. Stifel Nicolaus boosted their price target on International Seaways from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $63.75.

International Seaways Trading Down 0.3 %

Shares of International Seaways stock opened at $59.13 on Friday. 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 1 year low of $35.51 and a 1 year high of $65.94. The company has a market capitalization of $2.92 billion, a P/E ratio of 5.53 and a beta of -0.04. The business has a 50 day moving average price of $59.93 and a 200 day moving average price of $54.20.

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

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a $1.75 dividend. The ex-dividend date was Wednesday, June 12th. This is an increase from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a yield of 11.84%. International Seaways’s payout ratio is 4.49%.

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.