Knights of Columbus Asset Advisors LLC Boosts Stake in International Seaways Inc. (NYSE:INSW)

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in International Seaways Inc. by 39.6%, holding 48,180 shares valued at approximately $1.6 million as of the latest SEC filing.
• International Seaways reported a quarterly earnings per share (EPS) of $0.80, exceeding analysts' expectations of $0.59, despite a 32.9% decline in revenue year-over-year.
• The company has announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 1.19%, which reflects a payout ratio of 7.42%.

Knights of Columbus Asset Advisors LLC raised its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,180 shares of the transportation company's stock after buying an additional 13,665 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.10% of International Seaways worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of International Seaways in the 4th quarter valued at about $29,000. GAMMA Investing LLC raised its position in International Seaways by 105.1% during 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 during the last quarter. Quarry LP raised its position in International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after purchasing an additional 852 shares during the last quarter. Blue Trust Inc. raised its position in International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after purchasing an additional 738 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position 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 valued at $88,000 after purchasing an additional 564 shares during the last quarter. Institutional investors own 67.29% of the company's stock.

Insider Transactions at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the sale, the senior vice president directly owned 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $37.00, for a total transaction of $37,000.00. Following the completion of the sale, the senior vice president directly owned 59,752 shares in the company, valued at approximately $2,210,824. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,500 shares of company stock valued at $473,730. Corporate insiders own 2.00% of the company's stock.

International Seaways Stock Performance

Shares of INSW stock traded up $0.14 on Tuesday, reaching $41.13. The stock had a trading volume of 487,620 shares, compared to its average volume of 778,350. The stock has a market cap of $2.03 billion, a P/E ratio of 6.36 and a beta of 0.05. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $56.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The company has a 50 day simple moving average of $38.51 and a 200 day simple moving average of $36.58.

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, topping the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm's revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the business posted $2.92 earnings per share. Equities research analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Thursday, June 12th. International Seaways's payout ratio is presently 7.42%.

Wall Street Analysts Forecast Growth

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

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.