Ieq Capital LLC Raises Stock Holdings in International Seaways Inc. $INSW

Key Points

• Ieq Capital LLC has increased its stake in International Seaways Inc. by 77.1%, acquiring an additional 12,026 shares to bring its total holdings to 27,623 shares valued at approximately $917,000.
• International Seaways reported $1.02 earnings per share (EPS) for the last quarter, exceeding consensus estimates, yet experienced a 24% decrease in quarterly revenue year-over-year.
• The company recently declared a quarterly dividend of $0.12 per share, with the ex-dividend date set for September 10th, indicating a dividend yield of approximately 1.1%.

Ieq Capital LLC lifted its position in International Seaways Inc. (NYSE:INSW - Free Report) by 77.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,623 shares of the transportation company's stock after acquiring an additional 12,026 shares during the period. Ieq Capital LLC owned approximately 0.06% of International Seaways worth $917,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Glenorchy Capital Ltd increased its stake in International Seaways by 0.6% during the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock worth $1,809,000 after purchasing an additional 322 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings 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 purchasing an additional 370 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of International Seaways by 3.9% in the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock valued at $398,000 after purchasing an additional 455 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of International Seaways by 30.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock valued at $88,000 after purchasing an additional 564 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of International Seaways by 105.1% in the first 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 during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Seaways

In other International Seaways news, CAO James D. Small III sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total transaction of $206,750.00. Following the transaction, the chief accounting officer directly owned 69,292 shares in the company, valued at approximately $2,865,224.20. This represents a 6.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Derek G. Solon sold 3,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total value of $124,050.00. Following the completion of the transaction, the senior vice president owned 52,893 shares in the company, valued at approximately $2,187,125.55. This represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $767,820. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, BTIG Research decreased their target price on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, International Seaways currently has a consensus rating of "Buy" and a consensus price target of $53.50.

International Seaways Stock Performance

Shares of International Seaways stock traded up $0.71 during trading on Friday, reaching $46.74. The company's stock had a trading volume of 577,075 shares, compared to its average volume of 497,692. The business's 50-day moving average price is $41.55 and its 200-day moving average price is $37.51. The firm has a market cap of $2.31 billion, a PE ratio of 9.72 and a beta of 0.08. International Seaways Inc. has a 52 week low of $27.20 and a 52 week 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.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The business had revenue of $188.82 million during the quarter, compared to analysts' expectations of $199.06 million. During the same quarter in the prior year, the business posted $2.37 earnings per share. International Seaways's revenue was down 24.0% compared to the same quarter last year. Equities analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways's dividend payout ratio is currently 9.98%.

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.