Verity Asset Management Inc. Has $276,000 Position in International Seaways, Inc. (NYSE:INSW)

Verity Asset Management Inc. lowered its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 28.5% during the third quarter, HoldingsChannel reports. The firm owned 5,356 shares of the transportation company’s stock after selling 2,135 shares during the quarter. Verity Asset Management Inc.’s holdings in International Seaways were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of INSW. EdgeRock Capital LLC bought a new stake in International Seaways in the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC bought a new stake in International Seaways in the 1st quarter valued at approximately $27,000. Blue Trust Inc. bought a new stake in International Seaways in the 3rd quarter valued at approximately $41,000. Headlands Technologies LLC lifted its stake in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 574 shares in the last quarter. Finally, Quarry LP lifted its stake in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the topic of several recent analyst reports. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.67.

International Seaways Stock Down 1.8 %

INSW stock opened at $43.08 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.14 billion, a PE ratio of 4.10 and a beta of -0.06. International Seaways, Inc. has a 1-year low of $42.08 and a 1-year high of $65.94. The business’s 50 day simple moving average is $49.01 and its 200 day simple moving average is $54.30.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.99 EPS. As a group, research analysts anticipate that International Seaways, Inc. will post 8.5 EPS for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.26%. International Seaways’s payout ratio is presently 4.57%.

Insider Buying and Selling at International Seaways

In other International Seaways 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 value of $98,800.00. Following the transaction, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at $7,779,265. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other International Seaways 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 value of $98,800.00. Following the transaction, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at $7,779,265. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now directly owns 52,803 shares in the company, valued at approximately $2,705,625.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock valued at $738,920 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

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.