Lesa Sroufe & Co Acquires New Position in International Seaways Inc. (NYSE:INSW)

Lesa Sroufe & Co purchased a new position in International Seaways Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,553 shares of the transportation company's stock, valued at approximately $1,911,000. International Seaways accounts for about 1.9% of Lesa Sroufe & Co's investment portfolio, making the stock its 21st biggest position. Lesa Sroufe & Co owned about 0.12% of International Seaways at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INSW. Banque Transatlantique SA bought a new stake in International Seaways during the fourth quarter worth about $29,000. Larson Financial Group LLC bought a new stake in International Seaways in the fourth quarter worth $37,000. GAMMA Investing LLC boosted its position in International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after buying an additional 596 shares during the period. Quarry LP grew its stake in shares of International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after buying an additional 852 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of International Seaways in the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Trading Down 2.0%

INSW traded down $0.82 during trading on Friday, hitting $40.14. 1,571,012 shares of the stock traded hands, compared to its average volume of 759,622. The firm has a market capitalization of $1.98 billion, a P/E ratio of 6.20 and a beta of 0.05. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $60.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. The firm has a 50-day moving average of $36.38 and a 200 day moving average of $36.05.

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, beating analysts' consensus estimates of $0.59 by $0.21. The business 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%. International Seaways's quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.92 EPS. Equities research analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's payout ratio is currently 7.42%.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer now owns 198,771 shares in the company, valued at approximately $6,293,089.86. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company's stock, valued at approximately $1,854,884.98. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,500 shares of company stock worth $378,200. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated 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 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.