UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 9,925 Shares of International Seaways, Inc. (NYSE:INSW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in International Seaways, Inc. (NYSE:INSW) by 14.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,035 shares of the transportation company’s stock after selling 9,925 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of International Seaways worth $2,992,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INSW. EdgeRock Capital LLC bought a new stake in shares of International Seaways in the 2nd quarter valued at approximately $28,000. Blue Trust Inc. acquired a new position in International Seaways during the third quarter worth $41,000. EverSource Wealth Advisors LLC lifted its holdings in shares of International Seaways by 62.8% during the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 305 shares during the period. KBC Group NV boosted its stake in shares of 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 in the last quarter. Finally, Quarry LP grew its holdings in shares of International Seaways by 408.0% in the 2nd 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 last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares in the company, valued at approximately $2,230,119.15. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.30, for a total transaction of $100,600.00. Following the completion of the transaction, the chief executive officer now 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 90 days, insiders sold 10,200 shares of company stock valued at $463,222. 1.90% of the stock is owned by company insiders.

International Seaways Stock Down 2.7 %

Shares of INSW stock opened at $34.96 on Friday. The firm’s fifty day moving average price is $43.42 and its two-hundred day moving average price is $50.80. 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, Inc. has a 1 year low of $34.32 and a 1 year high of $65.94. The firm has a market capitalization of $1.72 billion, a P/E ratio of 3.38 and a beta of -0.10.

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

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 15.10%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group cut their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and decreased their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

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.