Rhumbline Advisers Has $4.11 Million Position in International Seaways, Inc. (NYSE:INSW)

Rhumbline Advisers raised its stake in shares of International Seaways, Inc. (NYSE:INSW) by 1.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 69,556 shares of the transportation company’s stock after purchasing an additional 817 shares during the period. Rhumbline Advisers’ holdings in International Seaways were worth $4,113,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INSW. Vanguard Group Inc. boosted its stake in shares of International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares during the period. Goldman Sachs Group Inc. raised its holdings 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 valued at $18,367,000 after purchasing an additional 147,740 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings 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 valued at $36,869,000 after purchasing an additional 139,569 shares in the last quarter. Boston Partners raised its holdings in shares of International Seaways by 433.9% during the 1st quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock valued at $8,718,000 after purchasing an additional 133,102 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of International Seaways by 74.0% during the 1st quarter. Russell Investments Group Ltd. now owns 241,526 shares of the transportation company’s stock valued at $12,849,000 after purchasing an additional 102,724 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on INSW. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their price target 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.75.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the transaction, the chief executive officer now owns 157,475 shares of the company’s stock, valued at $7,779,265. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the sale, the chief executive officer now directly owns 157,475 shares in the company, valued at approximately $7,779,265. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,000 shares of company stock valued at $560,390. Insiders own 1.90% of the company’s stock.

International Seaways Stock Up 2.6 %

International Seaways stock opened at $50.60 on Tuesday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 4.73 and a beta of -0.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. International Seaways, Inc. has a fifty-two week low of $40.68 and a fifty-two week high of $65.94. The firm has a fifty day moving average price of $52.32 and a two-hundred day moving average price of $55.41.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The company had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.12 EPS. As a group, analysts forecast that International Seaways, Inc. will post 9.51 earnings per share for the current year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, September 11th. International Seaways’s dividend payout ratio is currently 4.49%.

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.