International Seaways, Inc. (NYSE:INSW) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its holdings in International Seaways, Inc. (NYSE:INSW) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,887 shares of the transportation company’s stock after selling 854 shares during the period. Vontobel Holding Ltd.’s holdings in International Seaways were worth $359,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in International Seaways in the third quarter valued at approximately $224,000. Counterpoint Mutual Funds LLC purchased a new stake in International Seaways in the third quarter valued at approximately $113,000. U S Global Investors Inc. purchased a new stake in International Seaways in the third quarter valued at approximately $78,000. Raymond James & Associates purchased a new stake in International Seaways in the third quarter valued at approximately $274,000. Finally, Baker Ellis Asset Management LLC purchased a new stake in International Seaways in the third quarter valued at approximately $220,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares in the company, valued at approximately $4,117,521.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,846 shares of company stock valued at $3,073,978. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INSW shares. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th. Stifel Nicolaus upped their price objective on International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th.

International Seaways Price Performance

INSW stock opened at $53.97 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. The firm has a market capitalization of $2.64 billion, a P/E ratio of 4.80 and a beta of -0.05. The business’s 50-day moving average is $52.66 and its two-hundred day moving average is $49.54. International Seaways, Inc. has a 1 year low of $34.77 and a 1 year high of $55.59.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The business had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. Analysts anticipate that International Seaways, Inc. will post 9.42 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 8.89%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

About International Seaways

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.