Millennium Management LLC Has $2.16 Million Position in International Seaways, Inc. (NYSE:INSW)

Millennium Management LLC grew its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 68.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,163 shares of the transportation company's stock after purchasing an additional 24,462 shares during the quarter. Millennium Management LLC owned about 0.12% of International Seaways worth $2,162,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of International Seaways in the fourth quarter valued at about $29,000. Larson Financial Group LLC bought a new stake in shares of International Seaways in the fourth quarter valued at about $37,000. Quarry LP lifted its stake in shares of International Seaways by 169.0% in 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 period. R Squared Ltd bought a new stake in shares of International Seaways in the fourth quarter valued at about $59,000. Finally, KBC Group NV lifted its stake in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after buying an additional 653 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Price Performance

NYSE INSW traded down $0.51 during trading on Thursday, reaching $37.49. 63,130 shares of the company traded hands, compared to its average volume of 746,469. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock's 50 day moving average price is $34.74 and its two-hundred day moving average price is $36.19. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 3.60 and a beta of -0.01. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $63.50.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. During the same period in the previous year, the business earned $2.92 earnings per share. The company's quarterly revenue was down 32.9% on a year-over-year basis. As a group, analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is currently 7.42%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.

Insider Activity

In related news, 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 sale, the senior vice president now owns 56,846 shares of the company's stock, valued at $1,854,884.98. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total transaction of $57,330.00. Following the completion of the sale, the senior vice president now directly owns 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,900 shares of company stock worth $516,956. Insiders own 2.00% of the company's stock.

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.