Moors & Cabot Inc. Has $599,000 Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Moors & Cabot Inc. lessened its position in shares of International Seaways, Inc. (NYSE:INSW) by 69.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 10,133 shares of the transportation company’s stock after selling 22,852 shares during the quarter. Moors & Cabot Inc.’s holdings in International Seaways were worth $599,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in INSW. EverSource Wealth Advisors LLC bought a new stake in International Seaways in the first quarter valued at about $27,000. EdgeRock Capital LLC bought a new stake in International Seaways in the second quarter valued at about $28,000. Headlands Technologies LLC increased its holdings in International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares during the last quarter. CWM LLC increased its holdings in International Seaways by 47.9% in the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 476 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in International Seaways in the first quarter valued at about $108,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the transaction, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $98,800.00. Following the completion of the transaction, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at $7,779,265. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $51.19, for a total value of $51,190.00. Following the transaction, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock valued at $660,990 over the last three months. Company insiders own 1.90% of the company’s stock.

International Seaways Stock Up 2.3 %

Shares of International Seaways stock opened at $51.78 on Friday. International Seaways, Inc. has a 1 year low of $40.68 and a 1 year high of $65.94. The business has a 50-day moving average of $51.97 and a two-hundred day moving average of $55.33. The company has a market capitalization of $2.56 billion, a P/E ratio of 4.84 and a beta of -0.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.13). The firm had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.12 earnings per share. As a group, equities analysts predict that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. International Seaways’s dividend payout ratio is currently 4.49%.

Analyst Ratings Changes

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

International Seaways Company 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.