Pekin Hardy Strauss Inc. Acquires Shares of 7,000 International Seaways Inc. (NYSE:INSW)

Pekin Hardy Strauss Inc. acquired a new position in shares of International Seaways Inc. (NYSE:INSW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,000 shares of the transportation company's stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenorchy Capital Ltd increased its position in International Seaways by 0.6% during the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock worth $1,809,000 after buying an additional 322 shares in the last quarter. Farther Finance Advisors LLC increased its position in International Seaways by 3.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after buying an additional 360 shares in the last quarter. SummerHaven Investment Management LLC increased its position in International Seaways by 2.8% during the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after buying an additional 370 shares in the last quarter. Tower Research Capital LLC TRC increased its position in International Seaways by 30.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock worth $88,000 after buying an additional 564 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after buying an additional 596 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total value of $63,320.00. Following the sale, the chief executive officer directly owned 198,771 shares of the company's stock, valued at approximately $6,293,089.86. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $37.00, for a total value of $37,000.00. Following the completion of the sale, the senior vice president directly owned 59,752 shares in the company, valued at approximately $2,210,824. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $382,570 over the last three months. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

International Seaways Stock Performance

Shares of International Seaways stock traded up $1.64 on Thursday, reaching $39.92. 178,300 shares of the company were exchanged, compared to its average volume of 762,626. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $58.73. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 6.17 and a beta of 0.05. The company's 50-day moving average is $37.92 and its two-hundred day moving average is $36.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76.

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

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. International Seaways's dividend payout ratio is 7.42%.

About International Seaways

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.