Inspire Investing LLC Has $790,000 Stock Position in International Seaways, Inc. (NYSE:INSW)

Inspire Investing LLC lowered its stake in International Seaways, Inc. (NYSE:INSW) by 19.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,357 shares of the transportation company’s stock after selling 3,257 shares during the quarter. Inspire Investing LLC’s holdings in International Seaways were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INSW. Vanguard Group Inc. grew its holdings in International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares during the period. American Century Companies Inc. grew its holdings in International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after purchasing an additional 252,492 shares during the period. Renaissance Technologies LLC grew its holdings in International Seaways by 5.3% during the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after purchasing an additional 44,200 shares during the period. Victory Capital Management Inc. grew its holdings in International Seaways by 4.1% during the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock worth $50,482,000 after purchasing an additional 33,712 shares during the period. Finally, Frontier Capital Management Co. LLC grew its holdings in International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after purchasing an additional 139,569 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 157,475 shares in the company, valued at $7,779,265. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 157,475 shares in the company, valued at $7,779,265. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following 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 sold a total of 13,000 shares of company stock worth $660,990 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

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

International Seaways Trading Down 3.0 %

Shares of INSW stock opened at $50.24 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.48 billion, a P/E ratio of 4.70 and a beta of -0.07. The stock has a 50 day simple moving average of $51.86 and a 200 day simple moving average of $55.32. International Seaways, Inc. has a 1 year low of $40.68 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly 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 company had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.12 earnings per share. On average, research analysts predict that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, September 11th. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

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.