American Century Companies Inc. Raises Stake in International Seaways, Inc. (NYSE:INSW)

American Century Companies Inc. increased its stake in shares of International Seaways, Inc. (NYSE:INSW) by 25.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,235,135 shares of the transportation company’s stock after buying an additional 252,492 shares during the period. American Century Companies Inc. owned about 2.50% of International Seaways worth $73,034,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Magnetar Financial LLC purchased a new stake in shares of International Seaways during the 1st quarter worth approximately $2,604,000. SG Americas Securities LLC increased its position in International Seaways by 102.1% in the second quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after buying an additional 10,652 shares during the last quarter. GeoSphere Capital Management LLC bought a new stake in shares of International Seaways in the fourth quarter valued at $2,501,000. BNP Paribas Financial Markets lifted its position in shares of International Seaways by 101.5% during the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock valued at $1,838,000 after buying an additional 17,399 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of International Seaways during the 1st quarter worth $1,735,000. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research note on Wednesday, August 7th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.75.

International Seaways Trading Up 0.4 %

Shares of INSW opened at $49.32 on Friday. The business’s 50-day moving average price is $52.45 and its 200-day moving average price is $55.38. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The stock has a market cap of $2.45 billion, a PE ratio of 4.61 and a beta of -0.07.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.13). The firm had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.12 earnings per share. On average, equities analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date is Wednesday, September 11th. International Seaways’s payout ratio is 4.49%.

Insiders Place Their Bets

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock worth $560,390 in the last ninety days. 1.90% of the stock is currently owned by insiders.

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.