Illinois Municipal Retirement Fund acquired a new stake in International Seaways Inc. (NYSE:INSW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,222 shares of the transportation company's stock, valued at approximately $671,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new stake in International Seaways during the 4th quarter worth $29,000. Larson Financial Group LLC acquired a new stake in International Seaways during the 4th quarter worth $37,000. GAMMA Investing LLC raised its stake in International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after acquiring an additional 596 shares in the last quarter. Quarry LP raised its stake in International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after acquiring an additional 852 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after acquiring an additional 738 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.
International Seaways Stock Performance
International Seaways stock traded up $0.13 during midday trading on Friday, hitting $38.87. 341,805 shares of the company's stock were exchanged, compared to its average volume of 762,195. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $58.84. 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 has a market cap of $1.92 billion, a price-to-earnings ratio of 6.01 and a beta of 0.05. The firm's 50 day simple moving average is $37.60 and its 200 day simple moving average is $36.20.
International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating 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 net margin of 37.39% and a return on equity of 14.98%. The business's quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.92 earnings per share. Equities research analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.
International Seaways Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, June 12th. International Seaways's payout ratio is 7.42%.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group reiterated a "buy" rating and set a $48.00 price target on shares of International Seaways in a research note on Thursday, May 8th.
Get Our Latest Research Report on International Seaways
Insider Activity at International Seaways
In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $38.74, for a total value of $77,480.00. Following the completion of the sale, the chief executive officer owned 194,771 shares in the company, valued at $7,545,428.54. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $37.00, for a total transaction of $37,000.00. Following the completion of the sale, the senior vice president owned 59,752 shares of the company's stock, valued at $2,210,824. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock worth $382,570 over the last 90 days. Company insiders own 2.00% of the company's stock.
International Seaways Company Profile
(
Free Report)
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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