Denali Advisors LLC Trims Stake in International Seaways Inc. (NYSE:INSW)

Denali Advisors LLC lowered its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 75.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of INSW. Glenorchy Capital Ltd increased its holdings in shares of International Seaways by 0.6% during the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock valued at $1,809,000 after acquiring an additional 322 shares during the last quarter. SummerHaven Investment Management LLC raised its position in International Seaways by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock valued at $457,000 after purchasing an additional 370 shares during the last quarter. Arizona State Retirement System raised its position in shares of International Seaways by 3.9% during the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after acquiring an additional 455 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in International Seaways by 30.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock valued at $88,000 after purchasing an additional 564 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after buying an additional 596 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

International Seaways Trading Up 0.9%

Shares of INSW stock traded up $0.33 during mid-day trading on Tuesday, hitting $38.75. The company's stock had a trading volume of 158,986 shares, compared to its average volume of 755,272. The company's fifty day simple moving average is $38.35 and its 200-day simple moving average is $36.49. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $58.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The company has a market cap of $1.91 billion, a PE ratio of 5.99 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating 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 business had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same period in the previous year, the company posted $2.92 EPS. The firm's revenue was down 32.9% compared to the same quarter last year. As a group, equities research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued 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 1.24%. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

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 report on Thursday, May 8th.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total value of $77,240.00. Following the completion of the sale, the chief executive officer owned 192,771 shares of the company's stock, valued at approximately $7,444,816.02. The trade was a 1.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $37.00, for a total transaction of $37,000.00. Following the sale, the senior vice president directly owned 59,752 shares of the company's stock, valued at approximately $2,210,824. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,500 shares of company stock valued at $473,730. Corporate insiders own 2.00% of the company's stock.

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.