International Seaways Inc. $INSW Shares Purchased by Keeley Teton Advisors LLC

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 increased its stake in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 49.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,303 shares of the transportation company's stock after purchasing an additional 33,450 shares during the period. Keeley Teton Advisors LLC owned 0.21% of International Seaways worth $3,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of International Seaways by 34.2% in the 4th quarter. Wells Fargo & Company MN now owns 29,131 shares of the transportation company's stock valued at $1,047,000 after buying an additional 7,431 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of International Seaways by 82.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 9,368 shares of the transportation company's stock valued at $337,000 after buying an additional 4,236 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $1,837,000. MetLife Investment Management LLC grew its stake in shares of International Seaways by 7.3% in the 4th quarter. MetLife Investment Management LLC now owns 24,536 shares of the transportation company's stock valued at $882,000 after buying an additional 1,669 shares during the period. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $359,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Price Performance

International Seaways stock opened at $44.34 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of 9.22 and a beta of 0.05. 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. The company's 50 day moving average is $40.43 and its two-hundred day moving average is $37.09.

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

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.12 per share. 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 currently 9.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INSW shares. Jefferies Financial Group restated a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th. BTIG Research decreased their price objective on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $53.50.

Insider Activity

In other International Seaways news, SVP Derek G. Solon sold 3,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $41.35, for a total value of $124,050.00. Following the sale, the senior vice president owned 52,893 shares of the company's stock, valued at $2,187,125.55. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company'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 directly owned 58,752 shares in the company, valued at $2,362,417.92. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock worth $804,950 over the last three months. Company insiders own 2.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.