Kettle Hill Capital Management LLC Buys New Shares in International Seaways Inc. $INSW

Key Points

• Kettle Hill Capital Management LLC has acquired a new stake in International Seaways Inc., purchasing 102,474 shares valued at approximately $3.4 million, making it 26th in their investment portfolio.
• International Seaways reported $1.02 EPS for the last quarter, exceeding the consensus estimate by $0.11, despite a 24% decline in revenue year-over-year.
• The company has declared a quarterly dividend of $0.12 per share, with a payout scheduled for September 24th, representing a yield of 1.0%.

Kettle Hill Capital Management LLC purchased a new stake in International Seaways Inc. (NYSE:INSW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 102,474 shares of the transportation company's stock, valued at approximately $3,402,000. International Seaways accounts for approximately 0.9% of Kettle Hill Capital Management LLC's holdings, making the stock its 26th largest holding. Kettle Hill Capital Management LLC owned approximately 0.21% of International Seaways as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in 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 acquiring an additional 564 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in International Seaways by 20.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,457 shares of the transportation company's stock worth $1,023,000 after acquiring an additional 4,845 shares in the last quarter. Northern Trust Corp raised its stake in International Seaways by 15.2% during the 4th quarter. Northern Trust Corp now owns 424,290 shares of the transportation company's stock worth $15,249,000 after acquiring an additional 55,824 shares in the last quarter. Ameriprise Financial Inc. raised its stake in International Seaways by 64.6% during the 4th quarter. Ameriprise Financial Inc. now owns 163,569 shares of the transportation company's stock worth $5,879,000 after acquiring an additional 64,167 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in International Seaways by 76.0% during the 4th quarter. BNP Paribas Financial Markets now owns 25,617 shares of the transportation company's stock worth $921,000 after acquiring an additional 11,064 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 3,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $41.35, for a total transaction of $124,050.00. Following the sale, the senior vice president directly owned 52,893 shares in the company, valued at approximately $2,187,125.55. The trade was a 5.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the sale, the chief executive officer owned 192,771 shares in the company, valued at $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock valued at $767,820. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Separately, BTIG Research dropped their price objective on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a research note 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 issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $53.50.

International Seaways Price Performance

INSW stock traded down $0.35 during trading on Tuesday, reaching $47.35. 509,409 shares of the company were exchanged, compared to its average volume of 746,494. The company has a market cap of $2.34 billion, a P/E ratio of 9.84 and a beta of 0.08. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $54.84. The stock's 50 day moving average price is $41.77 and its 200 day moving average price is $37.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

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

International Seaways Dividend Announcement

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