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

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bridgeway Capital Management LLC purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $14,269,000. Vanguard Group Inc. increased its holdings in shares of International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after purchasing an additional 369,145 shares in the last quarter. Winmill & CO. Inc. purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $6,311,000. Voloridge Investment Management LLC grew its stake in International Seaways by 445.5% in the 4th quarter. Voloridge Investment Management LLC now owns 180,566 shares of the transportation company's stock valued at $6,490,000 after acquiring an additional 147,468 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in International Seaways by 1,452.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company's stock valued at $4,829,000 after acquiring an additional 136,076 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was 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 $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $40.21, for a total value of $40,210.00. Following the sale, the senior vice president directly owned 58,752 shares in the company, valued at approximately $2,362,417.92. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,500 shares of company stock valued at $479,930. 2.00% of the stock is currently owned by company insiders.

International Seaways Trading Up 4.0%

NYSE:INSW traded up $1.66 on Tuesday, reaching $43.30. 1,019,334 shares of the company's stock were exchanged, compared to its average volume of 775,094. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 6.69 and a beta of 0.05. The business has a fifty day moving average of $38.85 and a 200-day moving average of $36.60. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $54.84.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. The business had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The business's revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 earnings per share. As a group, analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

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

About International Seaways

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.