Point72 DIFC Ltd Takes Position in International Seaways, Inc. (NYSE:INSW)

Point72 DIFC Ltd bought a new stake in International Seaways, Inc. (NYSE:INSW) in the 2nd quarter, Holdings Channel reports. The firm bought 2,656 shares of the transportation company’s stock, valued at approximately $157,000.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in International Seaways in the 1st quarter valued at $27,000. EdgeRock Capital LLC bought a new position in International Seaways in the 2nd quarter valued at about $28,000. Headlands Technologies LLC boosted 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 worth $48,000 after acquiring an additional 574 shares during the period. Quarry LP increased its stake 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 worth $86,000 after purchasing an additional 1,167 shares during the period. Finally, CWM LLC lifted its holdings in International Seaways by 47.9% during the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $68.00.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the sale, the senior vice president now owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 155,475 shares of the company’s stock, valued at $7,820,392.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $51.19, for a total value of $51,190.00. Following the completion of the transaction, the senior vice president now directly owns 53,803 shares in the company, valued at $2,754,175.57. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock worth $653,400 in the last three months. 1.90% of the stock is owned by corporate insiders.

International Seaways Price Performance

Shares of NYSE:INSW opened at $51.40 on Wednesday. The firm has a 50 day moving average of $51.22 and a 200-day moving average of $55.31. The stock has a market capitalization of $2.54 billion, a PE ratio of 4.80 and a beta of -0.07. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. International Seaways, Inc. has a 12 month low of $40.68 and a 12 month high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings results 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 business had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. During the same quarter in the previous year, the business posted $3.12 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts predict that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

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

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.