LPL Financial LLC Purchases 32,781 Shares of International Seaways Inc. $INSW

Key Points

• LPL Financial LLC increased its holdings in International Seaways Inc. by 250.7% in Q1, now owning approximately 0.09% of the company worth $1.52 million.
• International Seaways reported $1.02 EPS for the latest quarter, surpassing the consensus estimate of $0.91, while the revenue was down 24.0% year-over-year.
• The company has recently announced a quarterly dividend of $0.12, representing a 1.1% dividend yield and a payout ratio of 9.98%.

LPL Financial LLC boosted its position in International Seaways Inc. (NYSE:INSW - Free Report) by 250.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,856 shares of the transportation company's stock after purchasing an additional 32,781 shares during the period. LPL Financial LLC owned 0.09% of International Seaways worth $1,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after purchasing an additional 596 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in International Seaways by 139.9% during the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock worth $690,000 after buying an additional 12,128 shares during the period. KBC Group NV lifted its holdings in International Seaways by 61.2% during the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock worth $93,000 after buying an additional 1,063 shares during the period. Deutsche Bank AG lifted its holdings in International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock worth $1,257,000 after buying an additional 11,050 shares during the period. Finally, Blue Trust Inc. lifted its holdings in International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after buying an additional 738 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $38.74, for a total value of $77,480.00. Following the transaction, the chief executive officer directly owned 194,771 shares of the company's stock, valued at $7,545,428.54. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $124,050.00. Following the completion of the transaction, the senior vice president directly owned 52,893 shares in the company, valued at $2,187,125.55. This represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock worth $804,950 over the last three months. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on INSW shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th. BTIG Research cut their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $53.50.

International Seaways Trading Up 1.3%

Shares of NYSE:INSW traded up $0.57 during midday trading on Wednesday, reaching $44.69. The company's stock had a trading volume of 304,619 shares, compared to its average volume of 605,359. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.29 and a beta of 0.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $40.57 and a two-hundred day moving average price of $37.19. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.84.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 11.35% and a net margin of 29.88%.The firm's revenue was down 24.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.37 EPS. As a group, analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways's payout ratio is currently 9.98%.

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.