UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 51,884 Shares of International Seaways, Inc. (NYSE:INSW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 89.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,919 shares of the transportation company's stock after buying an additional 51,884 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of International Seaways worth $3,950,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Glenorchy Capital Ltd grew its stake in shares of International Seaways by 0.6% in the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock valued at $1,809,000 after buying an additional 322 shares in the last quarter. Bfsg LLC grew its position in International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock worth $99,000 after acquiring an additional 357 shares in the last quarter. Farther Finance Advisors LLC grew its position in International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after acquiring an additional 360 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of International Seaways by 30.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock worth $88,000 after purchasing an additional 564 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th.

International Seaways Stock Performance

Shares of INSW stock traded down $0.32 during trading on Friday, reaching $37.34. The company had a trading volume of 637,047 shares, compared to its average volume of 751,933. The firm's 50 day simple moving average is $34.91 and its two-hundred day simple moving average is $36.05. International Seaways, Inc. has a one year low of $27.20 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company has a market capitalization of $1.84 billion, a PE ratio of 3.61 and a beta of 0.05.

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

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.29%. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 1,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the completion of the transaction, the senior vice president now owns 55,893 shares of the company's stock, valued at approximately $2,136,230.46. The trade was a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the sale, the senior vice president now directly owns 56,846 shares in the company, valued at $1,854,884.98. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,900 shares of company stock valued at $516,956 in the last quarter. Insiders own 2.00% of the company's stock.

International Seaways 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.