10,846 Shares in International Seaways Inc. $INSW Bought by Kapitalo Investimentos Ltda

Key Points

• Kapitalo Investimentos Ltda has invested $396,000 in International Seaways, acquiring 10,846 shares of the company during the second quarter.
• International Seaways reported earnings of $1.02 per share for the latest quarter, exceeding analysts' expectations, but revenue was down 24% year-over-year.
• The company's quarterly dividend of $0.12 will be paid on September 24, with a yield of 1.0% and a payout ratio of 9.98%.

Kapitalo Investimentos Ltda purchased a new position in shares of International Seaways Inc. (NYSE:INSW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,846 shares of the transportation company's stock, valued at approximately $396,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares in the last quarter. New York State Teachers Retirement System raised its position in International Seaways by 139.9% during the first quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock worth $690,000 after acquiring an additional 12,128 shares during the last quarter. KBC Group NV boosted its position in International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock worth $93,000 after acquiring an additional 1,063 shares during the last quarter. Deutsche Bank AG increased its position in International Seaways by 46.2% during the fourth quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock worth $1,257,000 after purchasing an additional 11,050 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after buying an additional 738 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, BTIG Research dropped their target price 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 research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $53.50.

Insider Activity

In other news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 owned 58,752 shares in the company, valued at $2,362,417.92. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO James D. Small III sold 5,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total value of $206,750.00. Following the sale, the chief accounting officer directly owned 69,292 shares in the company, valued at approximately $2,865,224.20. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,000 shares of company stock worth $836,770. Corporate insiders own 2.00% of the company's stock.

International Seaways Stock Performance

International Seaways stock traded down $0.36 on Monday, reaching $47.26. 467,009 shares of the stock were exchanged, compared to its average volume of 518,459. The firm has a fifty day moving average price of $43.51 and a two-hundred day moving average price of $38.49. The stock has a market cap of $2.33 billion, a PE ratio of 9.82 and a beta of 0.08. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $54.84.

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

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways's payout ratio is currently 9.98%.

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.