International Assets Investment Management LLC Makes New Investment in International Seaways, Inc. (NYSE:INSW)

International Assets Investment Management LLC purchased a new position in International Seaways, Inc. (NYSE:INSW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 90,960 shares of the transportation company’s stock, valued at approximately $4,137,000. International Assets Investment Management LLC owned approximately 0.19% of International Seaways at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. U S Global Investors Inc. lifted its stake in International Seaways by 144.5% in the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after buying an additional 2,500 shares in the last quarter. Raymond James & Associates boosted its stake in International Seaways by 92.0% in the 4th quarter. Raymond James & Associates now owns 11,671 shares of the transportation company’s stock worth $531,000 after purchasing an additional 5,593 shares during the period. SG Americas Securities LLC increased its holdings in International Seaways by 216.8% during the 4th quarter. SG Americas Securities LLC now owns 15,757 shares of the transportation company’s stock worth $717,000 after purchasing an additional 10,783 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of International Seaways in the 4th quarter valued at about $227,000. Finally, Vanguard Group Inc. boosted its position in shares of International Seaways by 5.3% during the third 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. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. Stifel Nicolaus raised their target price on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th.

Insider Transactions at International Seaways

In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the transaction, the chief financial officer now owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $196,992.12. Following the sale, the director now directly owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The disclosure for this sale can be found here. In the last three months, insiders sold 58,846 shares of company stock worth $3,074,618. 2.00% of the stock is owned by company insiders.

International Seaways Trading Up 8.2 %

NYSE INSW opened at $61.29 on Thursday. The company has a market cap of $3.00 billion, a PE ratio of 5.45 and a beta of -0.05. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $61.55. The stock has a 50 day moving average of $53.52 and a 200-day moving average of $50.41. The company has a current ratio of 2.38, a quick ratio of 2.37 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 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. On average, equities research analysts anticipate that International Seaways, Inc. will post 9.33 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 7.83%. International Seaways’s payout ratio is 4.27%.

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.