Voloridge Investment Management LLC Buys 147,468 Shares of International Seaways, Inc. (NYSE:INSW)

Voloridge Investment Management LLC boosted its holdings in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 445.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,566 shares of the transportation company's stock after purchasing an additional 147,468 shares during the period. Voloridge Investment Management LLC owned approximately 0.37% of International Seaways worth $6,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in International Seaways in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC bought a new stake in shares of International Seaways during the 4th quarter worth $37,000. Quarry LP boosted its holdings in shares of 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 buying an additional 852 shares during the period. R Squared Ltd bought a new stake in International Seaways in the 4th quarter valued at $59,000. Finally, KBC Group NV boosted its holdings in International Seaways by 60.2% in 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 during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Price Performance

INSW traded up $0.43 on Friday, hitting $37.18. 111,606 shares of the stock were exchanged, compared to its average volume of 744,219. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $65.32. The business has a 50-day moving average of $34.43 and a two-hundred day moving average of $36.32. 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 firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 3.59 and a beta of -0.01.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (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 business had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter last year, the business earned $2.92 EPS. The firm's quarterly revenue was down 32.9% on a year-over-year basis. Sell-side analysts forecast that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio is 7.42%.

Analysts Set New Price Targets

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

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $38.15, for a total transaction of $76,300.00. Following the completion of the transaction, the chief executive officer now owns 196,771 shares of the company's stock, valued at approximately $7,506,813.65. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 directly owns 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,900 shares of company stock worth $479,826 in the last ninety days. Company 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.