Janus Henderson Group PLC Buys 20,372 Shares of International Seaways, Inc. (NYSE:INSW)

Janus Henderson Group PLC grew its holdings in International Seaways, Inc. (NYSE:INSW) by 51.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 60,107 shares of the transportation company’s stock after buying an additional 20,372 shares during the period. Janus Henderson Group PLC’s holdings in International Seaways were worth $3,098,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INSW. Bailard Inc. lifted its holdings in shares of International Seaways by 2.4% during the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock worth $752,000 after purchasing an additional 300 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after buying an additional 305 shares during the period. Consolidated Portfolio Review Corp raised its stake in shares of International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock worth $492,000 after buying an additional 312 shares during the period. KBC Group NV raised its stake in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the last quarter. Finally, Cynosure Group LLC raised its stake in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the subject of several analyst reports. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now directly owns 52,803 shares of the company’s stock, valued at $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.30, for a total value of $100,600.00. Following the completion of the transaction, the chief executive officer now directly owns 155,475 shares of the company’s stock, valued at approximately $7,820,392.50. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,200 shares of company stock valued at $463,222. 1.90% of the stock is owned by insiders.

International Seaways Trading Down 3.0 %

Shares of INSW stock opened at $36.13 on Thursday. The business’s 50 day moving average is $44.16 and its two-hundred day moving average is $51.12. International Seaways, Inc. has a twelve month low of $36.10 and a twelve month high of $65.94. The company has a market capitalization of $1.78 billion, a P/E ratio of 3.49 and a beta of -0.10. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same period last year, the business posted $1.99 EPS. The company’s revenue was down 6.8% on a year-over-year basis. Equities analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.32 dividend. The ex-dividend date is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.61%. International Seaways’s payout ratio is 4.64%.

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.