Aurora Investment Counsel Acquires Shares of 12,817 International Seaways, Inc. (NYSE:INSW)

Aurora Investment Counsel bought a new stake in International Seaways, Inc. (NYSE:INSW) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 12,817 shares of the transportation company’s stock, valued at approximately $661,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after purchasing an additional 286,295 shares during the period. American Century Companies Inc. lifted its stake in shares of International Seaways by 25.7% in the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares during the period. Renaissance Technologies LLC lifted its stake in shares of International Seaways by 5.3% in the 2nd quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock valued at $52,184,000 after purchasing an additional 44,200 shares during the period. Victory Capital Management Inc. lifted its stake in shares of International Seaways by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock valued at $50,482,000 after purchasing an additional 33,712 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at $21,875,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $50.30, for a total transaction of $100,600.00. Following the transaction, the chief executive officer now owns 155,475 shares of the company’s stock, valued at approximately $7,820,392.50. The trade was a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the transaction, the senior vice president now directly owns 53,803 shares in the company, valued at approximately $2,754,175.57. The trade was a 1.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,000 shares of company stock valued at $723,780. 1.90% of the stock is currently owned by insiders.

International Seaways Price Performance

International Seaways stock opened at $41.87 on Thursday. International Seaways, Inc. has a 52-week low of $41.22 and a 52-week high of $65.94. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 4.05 and a beta of -0.06. The company has a fifty day simple moving average of $47.81 and a 200-day simple moving average of $53.57. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping 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 business had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.32 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 12.61%. International Seaways’s payout ratio is presently 4.64%.

Analyst Ratings Changes

INSW has been the subject of several analyst reports. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group cut their price target on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and cut their price target for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.