Ameriprise Financial Inc. Buys 64,167 Shares of International Seaways, Inc. (NYSE:INSW)

Ameriprise Financial Inc. increased its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 64.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,569 shares of the transportation company's stock after acquiring an additional 64,167 shares during the quarter. Ameriprise Financial Inc. owned about 0.33% of International Seaways worth $5,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSW. Vanguard Group Inc. lifted its stake in International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after acquiring an additional 369,145 shares during the period. Clearbridge Investments LLC bought a new stake in shares of International Seaways during the 4th quarter valued at $11,374,000. Empowered Funds LLC boosted its holdings in shares of International Seaways by 470.8% during the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock valued at $9,813,000 after buying an additional 225,196 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of International Seaways by 685.6% in the 4th 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 period. Finally, Winmill & CO. Inc. bought a new position in shares of International Seaways in the 4th quarter worth about $6,311,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total value of $63,320.00. Following the completion of the transaction, the chief executive officer now directly owns 198,771 shares of the company's stock, valued at approximately $6,293,089.86. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the transaction, the senior vice president now directly owns 55,852 shares of the company's stock, valued at $1,892,824.28. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,900 shares of company stock valued at $513,716. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

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

International Seaways Stock Up 0.9%

NYSE INSW traded up $0.34 during trading hours on Thursday, reaching $36.64. 438,541 shares of the company's stock traded hands, compared to its average volume of 746,725. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.32. The firm has a market cap of $1.81 billion, a PE ratio of 3.54 and a beta of -0.01. The firm has a 50-day simple moving average of $34.43 and a 200 day simple 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.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $178.34 million during the quarter, compared to analysts' expectations of $176.49 million. During the same period last year, the company posted $2.92 EPS. International Seaways's revenue was down 32.9% on a year-over-year basis. Sell-side analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company 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 is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.31%. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

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.