International Seaways, Inc. (NYSE:INSW) Holdings Lowered by Wexford Capital LP

Wexford Capital LP decreased its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,364 shares of the transportation company's stock after selling 7,205 shares during the period. Wexford Capital LP owned approximately 0.19% of International Seaways worth $3,284,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of INSW. Bridgeway Capital Management LLC acquired a new position in shares of International Seaways in the fourth quarter worth about $14,269,000. Vanguard Group Inc. raised its position in shares of International Seaways by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after purchasing an additional 369,145 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $11,374,000. Empowered Funds LLC grew its position in shares of International Seaways by 470.8% during the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock worth $9,813,000 after buying an additional 225,196 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of International Seaways by 685.6% in the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock worth $8,070,000 after buying an additional 195,961 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total transaction of $63,320.00. Following the completion of the transaction, the chief executive officer now directly owns 198,771 shares in the company, valued at $6,293,089.86. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the sale, the senior vice president now owns 55,893 shares in the company, valued at $2,136,230.46. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,900 shares of company stock valued at $513,716 over the last quarter. Insiders own 2.00% of the company's stock.

International Seaways Stock Performance

International Seaways stock traded down $1.03 during mid-day trading on Thursday, reaching $36.46. The company's stock had a trading volume of 505,175 shares, compared to its average volume of 744,666. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a twelve month low of $27.20 and a twelve month high of $65.94. The business has a 50 day moving average price of $34.15 and a 200-day moving average price of $36.58. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 3.52 and a beta of -0.01.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. The business had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company's revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 EPS. Sell-side analysts predict that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. International Seaways's dividend payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research report on Thursday, May 8th. SEB Equity Research set a $50.00 target price on International Seaways in a report on Friday, January 24th.

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.