International Seaways Inc. (NYSE:INSW) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,422 shares of the transportation company's stock after acquiring an additional 16,519 shares during the quarter. Rhumbline Advisers owned 0.28% of International Seaways worth $4,529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in International Seaways by 6,709.9% in the first quarter. GAMMA Investing LLC now owns 38,612 shares of the transportation company's stock valued at $12,820,000 after acquiring an additional 38,045 shares during the period. 111 Capital purchased a new position in shares of International Seaways in the 4th quarter valued at about $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of International Seaways by 89.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,919 shares of the transportation company's stock valued at $3,950,000 after purchasing an additional 51,884 shares during the period. Voloridge Investment Management LLC boosted its holdings in International Seaways by 445.5% during the fourth quarter. Voloridge Investment Management LLC now owns 180,566 shares of the transportation company's stock worth $6,490,000 after buying an additional 147,468 shares in the last quarter. Finally, Vident Advisory LLC boosted its holdings in International Seaways by 85.5% during the fourth quarter. Vident Advisory LLC now owns 21,947 shares of the transportation company's stock worth $789,000 after buying an additional 10,113 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 198,771 shares of the company's stock, valued at approximately $6,293,089.86. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction on 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 sale, the senior vice president now owns 55,893 shares in the company, valued at $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock worth $378,200 in the last ninety days. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

International Seaways Price Performance

International Seaways stock traded up $1.72 during trading hours on Tuesday, hitting $40.57. The stock had a trading volume of 850,000 shares, compared to its average volume of 754,827. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $60.99. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 6.27 and a beta of 0.05. The stock's fifty day moving average is $35.99 and its two-hundred day moving average is $36.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The firm's revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.92 EPS. As a group, analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. International Seaways's dividend payout ratio (DPR) is 7.42%.

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.