Fuller & Thaler Asset Management Inc. Has $17.16 Million Stock Position in International Seaways Inc. $INSW

Key Points

• Fuller & Thaler Asset Management Inc. reduced its holdings in International Seaways by 20.5% during the 1st quarter, owning approximately 1.05% of the company, valued at $17.16 million.
• Several institutional investors increased their stakes in International Seaways, with Public Sector Pension Investment Board raising its stake by 53.3% in the same quarter.
• International Seaways announced a dividend of $0.12 per share, representing an annualized yield of 1.2%, with the payment date set for September 24th.

Fuller & Thaler Asset Management Inc. lowered its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 20.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 516,706 shares of the transportation company's stock after selling 133,286 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 1.05% of International Seaways worth $17,155,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in International Seaways by 3.9% in the first quarter. American Century Companies Inc. now owns 1,695,985 shares of the transportation company's stock valued at $56,307,000 after acquiring an additional 63,232 shares during the period. Russell Investments Group Ltd. grew its stake in International Seaways by 27.2% in the first quarter. Russell Investments Group Ltd. now owns 72,999 shares of the transportation company's stock valued at $2,424,000 after acquiring an additional 15,589 shares during the period. HighTower Advisors LLC grew its stake in International Seaways by 42.5% in the first quarter. HighTower Advisors LLC now owns 38,308 shares of the transportation company's stock valued at $1,272,000 after acquiring an additional 11,430 shares during the period. Public Sector Pension Investment Board grew its stake in International Seaways by 53.3% in the first quarter. Public Sector Pension Investment Board now owns 154,003 shares of the transportation company's stock valued at $5,113,000 after acquiring an additional 53,558 shares during the period. Finally, Nuveen LLC acquired a new stake in International Seaways in the first quarter valued at approximately $9,079,000. Institutional investors and hedge funds own 67.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BTIG Research reduced their price objective on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, International Seaways currently has an average rating of "Buy" and a consensus price target of $53.50.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 3,000 shares of International Seaways stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total transaction of $124,050.00. Following the sale, the senior vice president directly owned 52,893 shares in the company, valued at approximately $2,187,125.55. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO James D. Small III sold 5,000 shares of International Seaways stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total value of $206,750.00. Following the sale, the chief accounting officer owned 69,292 shares in the company, valued at $2,865,224.20. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $760,260 over the last three months. Company insiders own 2.00% of the company's stock.

International Seaways Stock Down 2.7%

INSW stock opened at $41.5330 on Wednesday. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $54.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average is $40.01 and its 200-day moving average is $37.00. The firm has a market capitalization of $2.05 billion, a PE ratio of 8.63 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The company had revenue of $188.82 million for the quarter, compared to analyst estimates of $199.06 million. During the same quarter last year, the company earned $2.37 earnings per share. The company's revenue for the quarter was down 24.0% on a year-over-year basis. Sell-side analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 10th. International Seaways's dividend payout ratio (DPR) is currently 9.98%.

International Seaways Company 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.

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