Blue Trust Inc. Buys New Position in International Seaways, Inc. (NYSE:INSW)

Blue Trust Inc. purchased a new position in shares of International Seaways, Inc. (NYSE:INSW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 786 shares of the transportation company’s stock, valued at approximately $41,000.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new position in shares of International Seaways during the first quarter valued at about $27,000. EdgeRock Capital LLC bought a new position in shares of International Seaways during the second quarter valued at $28,000. Headlands Technologies LLC increased its holdings in shares of International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 574 shares in the last quarter. Quarry LP increased its holdings in shares of International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of International Seaways by 47.9% during the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after acquiring an additional 476 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INSW has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a report on Wednesday, August 7th. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.67.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the transaction, the chief executive officer now owns 157,475 shares in the company, valued at approximately $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total value of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $43.05, for a total value of $43,050.00. Following the sale, the senior vice president now directly owns 51,803 shares of the company’s stock, valued at approximately $2,230,119.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $738,920 over the last quarter. 1.90% of the stock is currently owned by insiders.

International Seaways Stock Performance

NYSE INSW opened at $43.57 on Friday. The business’s 50 day moving average price is $49.89 and its 200-day moving average price is $54.67. International Seaways, Inc. has a fifty-two week low of $42.08 and a fifty-two week high of $65.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The company has a market cap of $2.17 billion, a P/E ratio of 4.15 and a beta of -0.08.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The company had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $256.13 million. During the same quarter last year, the company earned $3.12 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. Sell-side analysts predict that International Seaways, Inc. will post 8.5 earnings per share for the current year.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.12 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. International Seaways’s payout ratio is 4.57%.

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.