Graham Capital Wealth Management LLC Buys Shares of 73,065 International Seaways Inc. (NYSE:INSW)

Key Points

• Graham Capital Wealth Management LLC acquired 73,065 shares of International Seaways Inc., valued at approximately $2.426 million, indicating a notable investment in the transportation company.
• Despite a 32.9% year-over-year revenue decline to $178.34 million, International Seaways reported an earnings per share (EPS) of $0.80, surpassing analysts' expectations.
• International Seaways announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 1.19%, with a modest payout ratio of 7.42%.

Graham Capital Wealth Management LLC purchased a new stake in International Seaways Inc. (NYSE:INSW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,065 shares of the transportation company's stock, valued at approximately $2,426,000. International Seaways comprises 2.7% of Graham Capital Wealth Management LLC's investment portfolio, making the stock its 18th largest position. Graham Capital Wealth Management LLC owned about 0.15% of International Seaways at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its position 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 acquiring an additional 596 shares during the period. New York State Teachers Retirement System grew its holdings in shares of International Seaways by 139.9% during the first quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock valued at $690,000 after buying an additional 12,128 shares in the last quarter. KBC Group NV grew its holdings in shares of International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock valued at $93,000 after buying an additional 1,063 shares in the last quarter. Deutsche Bank AG boosted its position in International Seaways by 46.2% during the fourth 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 during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in International Seaways during the fourth quarter valued at $1,121,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the transaction, the senior vice president directly owned 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the transaction, the chief executive officer owned 192,771 shares of the company's stock, valued at approximately $7,444,816.02. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,500 shares of company stock valued at $439,720. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

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.

International Seaways Price Performance

NYSE INSW traded down $1.00 during trading on Thursday, reaching $40.02. 196,936 shares of the company traded hands, compared to its average volume of 773,801. 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 stock's 50 day moving average price is $38.57 and its two-hundred day moving average price is $36.62. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 6.19 and a beta of 0.05. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $56.66.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.59 by $0.21. The business had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. International Seaways's revenue was down 32.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.92 EPS. As a group, analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio is currently 7.42%.

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.