Royce & Associates LP Invests $640,000 in International Seaways Inc. (NYSE:INSW)

Royce & Associates LP acquired a new position in International Seaways Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 19,287 shares of the transportation company's stock, valued at approximately $640,000.

Other hedge funds also recently made changes to their positions in the company. Bridgeway Capital Management LLC acquired a new stake in shares of International Seaways in the fourth quarter worth $14,269,000. Vanguard Group Inc. increased its position in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after acquiring an additional 369,145 shares during the period. Clearbridge Investments LLC bought a new position in International Seaways during the fourth quarter worth $11,374,000. Winmill & CO. Inc. bought a new position in International Seaways during the fourth quarter worth $6,311,000. Finally, Donald Smith & CO. Inc. increased its position in International Seaways by 77.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 362,192 shares of the transportation company's stock worth $13,017,000 after acquiring an additional 158,495 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total transaction of $57,330.00. Following the transaction, the senior vice president directly owned 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total transaction of $77,240.00. Following the completion of the transaction, the chief executive officer directly owned 192,771 shares in the company, valued at approximately $7,444,816.02. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,500 shares of company stock valued at $479,930. 2.00% of the stock is currently owned by corporate insiders.

International Seaways Trading Up 0.8%

Shares of INSW stock traded up $0.31 on Friday, reaching $40.21. The company had a trading volume of 669,499 shares, compared to its average volume of 509,441. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.98 billion, a PE ratio of 6.21 and a beta of 0.05. The company has a 50-day moving average of $38.77 and a 200-day moving average of $36.63. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $54.84.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The business had revenue of $178.34 million during the quarter, compared to analysts' expectations of $176.49 million. During the same period in the prior year, the business earned $2.92 EPS. International Seaways's revenue for the quarter was down 32.9% compared to the same quarter last year. On average, equities analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways's dividend payout ratio is 7.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price target on shares of International Seaways in a report on Thursday, May 8th.

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.