Charles Schwab Investment Management Inc. Boosts Stock Position in International Seaways Inc. $INSW

Key Points

• Charles Schwab Investment Management Inc. increased its stake in International Seaways Inc. by 17.4% during the first quarter, bringing its total holdings to approximately $18.07 million with 544,202 shares owned.
• The company reported earnings of $1.02 per share for the last quarter, beating estimates, although its revenue saw a 24% decline year-over-year, totaling $188.82 million.
• International Seaways announced a quarterly dividend of $0.12 per share, with a payment date set for September 24th, representing a 1.1% yield for investors.

Charles Schwab Investment Management Inc. increased its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 17.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 544,202 shares of the transportation company's stock after acquiring an additional 80,591 shares during the period. Charles Schwab Investment Management Inc. owned about 1.10% of International Seaways worth $18,068,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 596 shares during the last quarter. New York State Teachers Retirement System increased its stake in International Seaways by 139.9% in the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock worth $690,000 after buying an additional 12,128 shares during the period. KBC Group NV lifted its holdings in International Seaways by 61.2% during the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock valued at $93,000 after buying an additional 1,063 shares in the last quarter. Deutsche Bank AG boosted its position in International Seaways by 46.2% in the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock valued at $1,257,000 after buying an additional 11,050 shares during the period. Finally, Blue Trust Inc. grew its stake in International Seaways by 87.3% in the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after acquiring an additional 738 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 price target on shares of International Seaways in a research note on Thursday, May 8th. BTIG Research decreased their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $53.50.

International Seaways Stock Up 1.6%

Shares of NYSE:INSW traded up $0.73 during trading on Wednesday, reaching $44.85. The stock had a trading volume of 136,830 shares, compared to its average volume of 754,078. The firm's 50-day simple moving average is $40.50 and its 200 day simple moving average is $37.14. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a one year low of $27.20 and a one year high of $54.84. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.32 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The transportation company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The company had revenue of $188.82 million during the quarter, compared to analysts' expectations of $199.06 million. During the same quarter in the prior year, the company posted $2.37 earnings per share. International Seaways's revenue for the quarter was down 24.0% compared to the same quarter last year. As a group, research analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, September 10th. International Seaways's payout ratio is 9.98%.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $41.58, for a total value of $83,160.00. Following the completion of the transaction, the chief executive officer directly owned 190,771 shares of the company's stock, valued at $7,932,258.18. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James D. Small III sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total transaction of $206,750.00. Following the sale, the chief accounting officer directly owned 69,292 shares in the company, valued at approximately $2,865,224.20. This represents a 6.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock valued at $804,950 in the last 90 days. 2.00% of the stock is owned by insiders.

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.