Keeley Teton Advisors LLC Has $3.36 Million Holdings in International Seaways Inc. $INSW

Key Points

• Keeley Teton Advisors LLC increased its stake in International Seaways Inc. by 49.3%, acquiring a total of 101,303 shares valued at approximately $3.36 million.
• The company reported $1.02 earnings per share (EPS) for the quarter, surpassing analyst expectations, although revenue decreased by 24% year-over-year.
• International Seaways announced a quarterly dividend of $0.12 per share, representing a 1.1% yield and marking a dividend payout ratio of 9.98%.

Keeley Teton Advisors LLC lifted its position in International Seaways Inc. (NYSE:INSW - Free Report) by 49.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,303 shares of the transportation company's stock after buying an additional 33,450 shares during the period. Keeley Teton Advisors LLC owned about 0.21% of International Seaways worth $3,363,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of 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 buying an additional 596 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of International Seaways by 139.9% in the 1st 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 increased its position in shares of International Seaways by 61.2% in the 1st 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 increased its holdings in International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock worth $1,257,000 after purchasing an additional 11,050 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings 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 purchasing an additional 738 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $44.69, for a total value of $44,690.00. Following the completion of the sale, the chief financial officer directly owned 64,502 shares in the company, valued at approximately $2,882,594.38. This trade represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $40.21, for a total transaction of $40,210.00. Following the completion of the sale, the senior vice president owned 58,752 shares of the company's stock, valued at $2,362,417.92. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $767,820 in the last three months. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INSW. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th. BTIG Research lowered their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, International Seaways has a consensus rating of "Buy" and a consensus price target of $53.50.

International Seaways Stock Up 0.6%

Shares of International Seaways stock traded up $0.26 during trading hours on Friday, reaching $45.49. 715,075 shares of the company's stock were exchanged, compared to its average volume of 589,109. The company has a 50 day moving average of $40.77 and a two-hundred day moving average of $37.25. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.84. 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 stock has a market cap of $2.25 billion, a P/E ratio of 9.46 and a beta of 0.05.

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

International Seaways Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, September 10th. International Seaways's dividend payout ratio (DPR) is 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.