Denali Advisors LLC Has $515,000 Holdings in International Seaways Inc. (NYSE:INSW)

Denali Advisors LLC trimmed its holdings in International Seaways Inc. (NYSE:INSW - Free Report) by 75.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,500 shares of the transportation company's stock after selling 47,200 shares during the quarter. Denali Advisors LLC's holdings in International Seaways were worth $515,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of International Seaways during the fourth quarter worth $1,837,000. HighTower Advisors LLC lifted its position in International Seaways by 4.9% in the fourth quarter. HighTower Advisors LLC now owns 26,878 shares of the transportation company's stock valued at $966,000 after purchasing an additional 1,249 shares during the period. Swiss National Bank increased its holdings in International Seaways by 0.9% in the fourth quarter. Swiss National Bank now owns 78,100 shares of the transportation company's stock valued at $2,807,000 after buying an additional 700 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of International Seaways during the 4th quarter worth approximately $1,121,000. Finally, Intech Investment Management LLC increased its stake in shares of International Seaways by 58.3% during the 4th quarter. Intech Investment Management LLC now owns 19,041 shares of the transportation company's stock worth $684,000 after purchasing an additional 7,009 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Stock Up 4.9%

International Seaways stock traded up $1.92 during trading hours on Wednesday, hitting $40.70. The company had a trading volume of 218,037 shares, compared to its average volume of 754,280. The firm has a market capitalization of $2.01 billion, a P/E ratio of 6.29 and a beta of 0.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. The firm's fifty day moving average is $38.36 and its 200-day moving average is $36.52. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $58.59.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The business had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same period in the prior year, the firm earned $2.92 EPS. International Seaways's quarterly revenue was down 32.9% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is currently 7.42%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other International Seaways news, 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 owned 59,752 shares in the company, valued at approximately $2,210,824. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the senior vice president directly owned 55,893 shares in the company, valued at $2,136,230.46. This trade represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock worth $473,730 in the last quarter. 2.00% of the stock is owned by corporate 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.