BNP Paribas Financial Markets Purchases 11,064 Shares of International Seaways, Inc. (NYSE:INSW)

BNP Paribas Financial Markets raised its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 76.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,617 shares of the transportation company's stock after acquiring an additional 11,064 shares during the period. BNP Paribas Financial Markets owned approximately 0.05% of International Seaways worth $921,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 buying an additional 369,145 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in International Seaways during the fourth quarter worth about $11,374,000. Empowered Funds LLC grew its position in International Seaways by 470.8% during the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock worth $9,813,000 after buying an additional 225,196 shares in the last quarter. Principal Financial Group Inc. grew its position in International Seaways by 685.6% during the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock worth $8,070,000 after buying an additional 195,961 shares in the last quarter. Finally, Winmill & CO. Inc. acquired a new stake in International Seaways during the fourth quarter worth about $6,311,000. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now owns 50,453 shares in the company, valued at approximately $1,684,625.67. The trade was a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the transaction, the senior vice president now owns 55,852 shares of the company's stock, valued at $1,892,824.28. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,900 shares of company stock valued at $513,716. 2.00% of the stock is currently owned by corporate insiders.

International Seaways Price Performance

NYSE INSW traded up $0.52 during trading on Tuesday, reaching $37.87. 580,261 shares of the company traded hands, compared to its average volume of 746,264. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock's 50 day moving average price is $34.34 and its two-hundred day moving average price is $36.36. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 3.66 and a beta of -0.01. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94.

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, beating analysts' consensus estimates of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company's quarterly revenue was down 32.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.92 earnings per share. As a group, analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's payout ratio is 7.42%.

Wall Street Analysts Forecast Growth

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

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.