148,500 Shares in International Seaways, Inc. (NYSE:INSW) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of International Seaways, Inc. (NYSE:INSW) in the second quarter, HoldingsChannel.com reports. The firm acquired 148,500 shares of the transportation company’s stock, valued at approximately $8,781,000.

A number of other institutional investors have also recently added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC bought a new position in International Seaways during the 1st quarter worth $27,000. EdgeRock Capital LLC acquired a new position in International Seaways during the 2nd quarter worth $28,000. Headlands Technologies LLC boosted its position in International Seaways by 173.4% during the 1st 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 boosted its position in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares during the period. Finally, CWM LLC boosted its position 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 acquiring an additional 476 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INSW shares. Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Wednesday, August 7th. Finally, Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. One investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $68.00.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $55.97, for a total transaction of $55,970.00. Following the completion of the sale, the chief financial officer now directly owns 38,849 shares of the company’s stock, valued at $2,174,378.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction 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 directly owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the transaction, the chief financial officer now directly owns 38,849 shares in the company, valued at $2,174,378.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock valued at $653,400 over the last three months. Insiders own 1.90% of the company’s stock.

International Seaways Trading Down 1.5 %

Shares of International Seaways stock opened at $53.50 on Friday. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 5.00 and a beta of -0.08. The business has a fifty day simple moving average of $50.97 and a 200-day simple moving average of $55.29. International Seaways, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.94.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 7th. The transportation company reported $2.37 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 company had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $256.13 million. During the same period in the prior year, the company earned $3.12 earnings per share. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current fiscal 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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s dividend payout ratio is 4.49%.

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.