Canada Pension Plan Investment Board Has $2.02 Million Stock Position in International Seaways, Inc. (NYSE:INSW)

Canada Pension Plan Investment Board lessened its stake in International Seaways, Inc. (NYSE:INSW) by 70.8% in the second quarter, Holdings Channel reports. The firm owned 34,100 shares of the transportation company’s stock after selling 82,700 shares during the quarter. Canada Pension Plan Investment Board’s holdings in International Seaways were worth $2,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of International Seaways by 20.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,591 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 3,844 shares in the last quarter. BTG Pactual Global Asset Management Ltd bought a new position in International Seaways in the fourth quarter valued at approximately $709,000. Lighthouse Investment Partners LLC raised its position in International Seaways by 73.3% during the fourth quarter. Lighthouse Investment Partners LLC now owns 64,219 shares of the transportation company’s stock valued at $2,921,000 after purchasing an additional 27,153 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake 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 last quarter. Finally, GeoSphere Capital Management LLC acquired a new stake in shares of International Seaways in the 4th quarter valued at $2,501,000. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of research analyst reports. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Stifel Nicolaus boosted their target price on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

International Seaways Price Performance

Shares of INSW opened at $51.99 on Friday. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.57 billion, a PE ratio of 4.86 and a beta of -0.07. International Seaways, Inc. has a 12-month low of $40.68 and a 12-month high of $65.94. The business has a 50-day simple moving average of $51.44 and a two-hundred day simple moving average of $55.27.

International Seaways (NYSE:INSW) last released its quarterly earnings data 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). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same period in the prior year, the company earned $3.12 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s payout ratio is currently 4.49%.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.83, for a total value of $58,830.00. Following the completion of the sale, the chief financial officer now directly owns 39,849 shares in the company, valued at $2,344,316.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the transaction, the chief executive officer now owns 155,475 shares in the company, valued at approximately $7,820,392.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.83, for a total transaction of $58,830.00. Following the sale, the chief financial officer now owns 39,849 shares of the company’s stock, valued at $2,344,316.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,000 shares of company stock worth $660,990. Company insiders own 1.90% of the company’s stock.

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.