Envestnet Asset Management Inc. Purchases 136,076 Shares of International Seaways Inc. (NYSE:INSW)

Envestnet Asset Management Inc. increased its position in International Seaways Inc. (NYSE:INSW - Free Report) by 1,452.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,444 shares of the transportation company's stock after purchasing an additional 136,076 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of International Seaways worth $4,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSW. GAMMA Investing LLC grew its position in shares of International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after buying an additional 596 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of International Seaways by 139.9% during the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock valued at $690,000 after purchasing an additional 12,128 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 1,063 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock valued at $1,257,000 after purchasing an additional 11,050 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of International Seaways during the 4th quarter valued at about $1,121,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Down 1.2%

Shares of International Seaways stock traded down $0.48 on Friday, reaching $40.25. 397,462 shares of the company were exchanged, compared to its average volume of 548,761. International Seaways Inc. has a one year low of $27.20 and a one year high of $56.66. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 6.22 and a beta of 0.05. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $38.45 and a 200 day moving average of $36.59.

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

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is currently 7.42%.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the sale, the chief executive officer directly owned 192,771 shares of the company's stock, valued at approximately $7,444,816.02. This represents a 1.03% decrease in their position. The transaction 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 company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $37.00, for a total value of $37,000.00. Following the sale, the senior vice president owned 59,752 shares of the company's stock, 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. In the last three months, insiders have sold 12,500 shares of company stock valued at $473,730. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

International Seaways Profile

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.