Raymond James & Associates Acquires 5,593 Shares of International Seaways, Inc. (NYSE:INSW)

Raymond James & Associates increased its holdings in International Seaways, Inc. (NYSE:INSW) by 92.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,671 shares of the transportation company’s stock after purchasing an additional 5,593 shares during the quarter. Raymond James & Associates’ holdings in International Seaways were worth $531,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in International Seaways by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,581,058 shares of the transportation company’s stock worth $161,148,000 after buying an additional 181,287 shares during the period. Hosking Partners LLP lifted its stake in shares of International Seaways by 20.1% in the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after acquiring an additional 161,643 shares during the period. American Century Companies Inc. boosted its holdings in International Seaways by 38.1% in the third quarter. American Century Companies Inc. now owns 423,943 shares of the transportation company’s stock valued at $19,077,000 after acquiring an additional 116,923 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in International Seaways by 15.8% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 148,639 shares of the transportation company’s stock valued at $6,689,000 after purchasing an additional 20,272 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in International Seaways by 126.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 145,638 shares of the transportation company’s stock valued at $6,554,000 after purchasing an additional 81,377 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the sale, the chief financial officer now owns 75,927 shares in the company, valued at $4,117,521.21. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were 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 of the company’s stock, valued at $4,117,521.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the sale, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at $7,874,563.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,846 shares of company stock worth $3,073,978. Corporate insiders own 2.00% of the company’s stock.

International Seaways Stock Performance

NYSE:INSW opened at $54.58 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 4.85 and a beta of -0.05. International Seaways, Inc. has a twelve month low of $34.77 and a twelve month high of $55.59. The company has a fifty day moving average of $52.71 and a 200-day moving average of $49.64. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. The firm had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. As a group, sell-side analysts anticipate that International Seaways, Inc. will post 9.42 EPS for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 8.79%. International Seaways’s payout ratio is currently 4.27%.

Analysts Set New Price Targets

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

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.