International Seaways, Inc. (NYSE:INSW) Stock Position Increased by Rhumbline Advisers

Rhumbline Advisers grew its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,422 shares of the transportation company's stock after buying an additional 16,519 shares during the period. Rhumbline Advisers owned 0.28% of International Seaways worth $4,529,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 worth $171,043,000 after purchasing an additional 369,145 shares during the period. American Century Companies Inc. raised its stake in International Seaways by 9.8% during the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock worth $58,681,000 after acquiring an additional 146,145 shares in the last quarter. Geode Capital Management LLC grew its position in International Seaways by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after purchasing an additional 4,769 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in International Seaways by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock worth $16,662,000 after purchasing an additional 32,953 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of International Seaways by 1.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after acquiring an additional 7,325 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the transaction, the chief executive officer now directly owns 179,557 shares of the company's stock, valued at $6,223,445.62. This trade represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the completion of the transaction, the senior vice president now owns 55,893 shares in the company, valued at approximately $2,136,230.46. The trade was 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 valued at $370,040 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

International Seaways Trading Up 4.5%

Shares of NYSE:INSW traded up $1.70 during trading on Friday, reaching $39.90. The stock had a trading volume of 1,141,339 shares, compared to its average volume of 753,918. International Seaways, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $60.99. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $35.62 and a 200-day moving average price of $36.02. The stock has a market cap of $1.97 billion, a P/E ratio of 3.86 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter in the prior year, the business posted $2.92 earnings per share. International Seaways's revenue for the quarter was down 32.9% compared to the same quarter last year. As a group, analysts anticipate 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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, June 12th. International Seaways's payout ratio is currently 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.