International Seaways, Inc. (NYSE:INSW) Shares Sold by State Street Corp

State Street Corp decreased its position in International Seaways, Inc. (NYSE:INSW) by 0.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 958,910 shares of the transportation company’s stock after selling 320 shares during the period. State Street Corp’s holdings in International Seaways were worth $49,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the sale, the senior vice president now directly owns 52,803 shares in the company, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the transaction, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,200 shares of company stock worth $362,622. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on INSW shares. Jefferies Financial Group lowered their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Price Performance

NYSE:INSW opened at $32.46 on Friday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52 week low of $32.45 and a 52 week high of $65.94. The stock’s 50-day moving average price is $42.25 and its 200-day moving average price is $50.06. The stock has a market capitalization of $1.60 billion, a PE ratio of 3.14 and a beta of -0.10.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. As a group, equities analysts expect that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 16.27%. The ex-dividend date is Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 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.