Pekin Hardy Strauss Inc. Makes New $232,000 Investment in International Seaways Inc. (NYSE:INSW)

Pekin Hardy Strauss Inc. bought a new position in shares of International Seaways Inc. (NYSE:INSW - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,000 shares of the transportation company's stock, valued at approximately $232,000.

A number of other institutional investors have also made changes to their positions in INSW. Banque Transatlantique SA bought a new stake in International Seaways in the 4th quarter valued at $29,000. Larson Financial Group LLC bought a new stake in International Seaways in the 4th quarter valued at $37,000. GAMMA Investing LLC boosted its stake in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares during the period. Quarry LP boosted its stake in International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after purchasing an additional 852 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after acquiring an additional 738 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $38.74, for a total transaction of $77,480.00. Following the completion of the transaction, the chief executive officer directly owned 194,771 shares in the company, valued at $7,545,428.54. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $57,330.00. Following the transaction, the senior vice president owned 55,893 shares of the company's stock, valued at $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,500 shares of company stock valued at $382,570. Company insiders own 2.00% of the company's stock.

International Seaways Price Performance

Shares of NYSE:INSW traded down $1.44 during trading on Wednesday, reaching $38.26. 691,283 shares of the company traded hands, compared to its average volume of 763,375. The company's 50 day moving average is $37.83 and its two-hundred day moving average is $36.31. The firm has a market capitalization of $1.89 billion, a PE ratio of 5.91 and a beta of 0.05. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $58.73.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 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 company had revenue of $178.34 million during the quarter, compared to analysts' expectations of $176.49 million. During the same quarter in the previous year, the firm earned $2.92 EPS. International Seaways's revenue was down 32.9% on a year-over-year basis. As a group, sell-side analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.25%. International Seaways's dividend payout ratio is presently 7.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of International Seaways in a research 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.