Freestone Grove Partners LP Makes New Investment in International Seaways, Inc. (NYSE:INSW)

Freestone Grove Partners LP acquired a new stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,104 shares of the transportation company's stock, valued at approximately $363,000.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after acquiring an additional 174,695 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of International Seaways by 1,677.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock worth $3,987,000 after buying an additional 104,704 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of International Seaways during the 4th quarter worth about $804,000. Thrivent Financial for Lutherans purchased a new position in International Seaways during the fourth quarter valued at $1,121,000. Finally, Principal Financial Group Inc. boosted its stake in shares of International Seaways by 27.3% in the third quarter. Principal Financial Group Inc. now owns 28,583 shares of the transportation company's stock worth $1,474,000 after acquiring an additional 6,121 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $34.01, for a total transaction of $34,010.00. Following the transaction, the senior vice president now owns 61,752 shares of the company's stock, valued at approximately $2,100,185.52. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total transaction of $63,320.00. Following the completion of the sale, the chief executive officer now directly owns 198,771 shares in the company, valued at approximately $6,293,089.86. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,400 shares of company stock worth $380,086 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research report on Thursday. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th.

International Seaways Trading Up 3.2 %

NYSE INSW traded up $1.18 during mid-day trading on Friday, hitting $37.78. The company's stock had a trading volume of 714,821 shares, compared to its average volume of 743,611. The stock's fifty day simple moving average is $33.40 and its two-hundred day simple moving average is $36.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a market capitalization of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm's revenue was down 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.92 earnings per share. Research analysts expect that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.27%. International Seaways's dividend payout ratio is currently 5.72%.

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.