Hosking Partners LLP Sells 6,828 Shares of International Seaways Inc. (NYSE:INSW)

Key Points

• Hosking Partners LLP has reduced its stake in International Seaways Inc. by 0.9%, now holding approximately $24.86 million worth of stock as of the latest SEC filing.
• Several institutional investors have increased their positions in International Seaways, with notable increases from GAMMA Investing LLC and Quarry LP, reflecting growing confidence in the company.
• International Seaways reported earnings of $1.02 per share in its latest quarter, surpassing expectations, despite a year-over-year revenue decline of 24%.

Hosking Partners LLP reduced its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 748,729 shares of the transportation company's stock after selling 6,828 shares during the period. Hosking Partners LLP owned approximately 1.52% of International Seaways worth $24,858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in International Seaways by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after purchasing an additional 4,769 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Seaways by 17.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company's stock worth $18,068,000 after purchasing an additional 80,591 shares in the last quarter. Pacer Advisors Inc. purchased a new position in International Seaways in the 1st quarter worth about $17,331,000. Northern Trust Corp increased its stake in International Seaways by 15.2% in the 4th quarter. Northern Trust Corp now owns 424,290 shares of the transportation company's stock worth $15,249,000 after purchasing an additional 55,824 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in International Seaways by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 406,197 shares of the transportation company's stock worth $14,599,000 after purchasing an additional 10,142 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Down 0.1%

NYSE INSW traded down $0.06 during trading on Wednesday, reaching $42.19. 215,123 shares of the company's stock were exchanged, compared to its average volume of 774,767. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.84. The firm has a market capitalization of $2.08 billion, a PE ratio of 8.76 and a beta of 0.05. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company's fifty day simple moving average is $39.55 and its 200-day simple moving average is $36.85.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.11. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. The business had revenue of $188.82 million during the quarter, compared to analyst estimates of $199.06 million. During the same period in the previous year, the company earned $2.37 EPS. The firm's revenue was down 24.0% on a year-over-year basis. Sell-side analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways's dividend payout ratio (DPR) is presently 9.98%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INSW. BTIG Research dropped their price target on International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Jefferies Financial Group restated a "buy" rating and set a $48.00 price objective on shares of International Seaways in a research report on Thursday, May 8th.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $40.21, for a total value of $40,210.00. Following the transaction, the senior vice president directly owned 58,752 shares of the company's stock, valued at approximately $2,362,417.92. This trade represents a 1.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $38.74, for a total value of $77,480.00. Following the completion of the transaction, the chief executive officer directly owned 194,771 shares in the company, valued at approximately $7,545,428.54. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock worth $422,600 over the last three months. 2.00% of the stock is owned by company insiders.

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.