91,147 Shares in International Seaways Inc. (NYSE:INSW) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC purchased a new stake in International Seaways Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,147 shares of the transportation company's stock, valued at approximately $3,026,000. Exchange Traded Concepts LLC owned about 0.19% of International Seaways at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its position in shares of International Seaways by 2.8% in the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock valued at $457,000 after acquiring an additional 370 shares in the last quarter. GAMMA Investing LLC lifted its holdings in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in International Seaways by 8.4% in the 1st quarter. Farther Finance Advisors LLC now owns 11,322 shares of the transportation company's stock valued at $377,000 after purchasing an additional 878 shares in the last quarter. Vest Financial LLC acquired a new stake in shares of International Seaways during the 1st quarter worth about $389,000. Finally, Rhumbline Advisers grew its holdings in shares of International Seaways by 13.8% during the first quarter. Rhumbline Advisers now owns 136,422 shares of the transportation company's stock worth $4,529,000 after buying an additional 16,519 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Trading Down 2.0%

NYSE INSW traded down $0.82 during trading hours on Friday, hitting $40.14. 516,689 shares of the company's stock were exchanged, compared to its average volume of 755,726. The business's 50 day moving average is $36.38 and its 200-day moving average is $36.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $60.99. The firm has a market capitalization of $1.98 billion, a P/E ratio of 6.20 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share 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 for the quarter, compared to analyst estimates of $176.49 million. During the same period in the prior year, the firm posted $2.92 EPS. The company's revenue was down 32.9% on a year-over-year basis. As a group, analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is 7.42%.

Insiders Place Their Bets

In related news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $34.01, for a total transaction of $34,010.00. Following the completion of the sale, the senior vice president now owns 61,752 shares of the company's stock, valued at approximately $2,100,185.52. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $38.74, for a total transaction of $77,480.00. Following the completion of the transaction, the chief executive officer now owns 194,771 shares in the company, valued at $7,545,428.54. The trade was a 1.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock valued at $378,200 over the last quarter. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "buy" rating and set a $48.00 price objective on shares of International Seaways in a research note 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.