Private Advisor Group LLC Invests $273,000 in International Seaways Inc. (NYSE:INSW)

Key Points

• Private Advisor Group LLC acquired a new stake in International Seaways Inc., purchasing 8,229 shares valued at approximately $273,000 in the first quarter.
• International Seaways reported earnings per share (EPS) of $0.80 for the last quarter, surpassing the analyst consensus estimate by $0.21, despite a revenue decrease of 32.9% year-over-year.
• The company announced a quarterly dividend of $0.12, representing a 1.2% yield, and currently has a dividend payout ratio of 7.42%.

Private Advisor Group LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,229 shares of the transportation company's stock, valued at approximately $273,000.

Several other hedge funds also recently modified their holdings of INSW. Vanguard Group Inc. boosted its position in shares of International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after acquiring an additional 369,145 shares during the last quarter. Geode Capital Management LLC raised its holdings in International Seaways by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock valued at $34,084,000 after buying an additional 4,769 shares during the period. Northern Trust Corp raised its holdings in International Seaways by 15.2% in the fourth quarter. Northern Trust Corp now owns 424,290 shares of the transportation company's stock valued at $15,249,000 after buying an additional 55,824 shares during the period. JPMorgan Chase & Co. raised its holdings in International Seaways by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 406,197 shares of the transportation company's stock valued at $14,599,000 after buying an additional 10,142 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new position in International Seaways in the fourth quarter valued at approximately $14,269,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INSW shares. Jefferies Financial Group reissued a "buy" rating and set a $48.00 price target on shares of International Seaways in a report on Thursday, May 8th. BTIG Research reduced their price target on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.50.

International Seaways Stock Performance

International Seaways stock traded up $1.09 during trading hours on Wednesday, reaching $44.36. 631,875 shares of the company were exchanged, compared to its average volume of 773,974. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $54.84. The stock has a 50-day moving average of $38.96 and a 200 day moving average of $36.64. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 6.87 and a beta of 0.05. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.03). International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm's revenue for the quarter was down 24.0% compared to the same quarter last year. During the same period last year, the company earned $2.37 EPS. As a group, research analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio is currently 7.42%.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $40.21, for a total value of $40,210.00. Following the completion of the sale, the senior vice president directly owned 58,752 shares in the company, valued at approximately $2,362,417.92. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the transaction, the senior vice president owned 55,893 shares in the company, 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. Insiders sold 12,500 shares of company stock worth $479,930 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

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.