Two Sigma Advisers LP Reduces Position in International Seaways, Inc. (NYSE:INSW)

Two Sigma Advisers LP cut its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 84.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,773 shares of the transportation company's stock after selling 123,249 shares during the period. Two Sigma Advisers LP's holdings in International Seaways were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of International Seaways by 8.4% in the 4th 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. American Century Companies Inc. boosted its stake in International Seaways by 9.8% in the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock worth $58,681,000 after purchasing an additional 146,145 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $34,084,000 after acquiring an additional 4,769 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $16,662,000 after acquiring an additional 32,953 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in shares of International Seaways by 1.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after purchasing an additional 7,325 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Price Performance

Shares of International Seaways stock traded up $0.78 during trading hours on Wednesday, reaching $37.96. 509,907 shares of the company's stock were exchanged, compared to its average volume of 748,030. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $63.50. The company has a market capitalization of $1.87 billion, a P/E ratio of 3.67 and a beta of -0.01. The business has a fifty day moving average of $34.64 and a two-hundred day moving average of $36.17. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm posted $2.92 earnings per share. International Seaways's quarterly revenue was down 32.9% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.26%. International Seaways's dividend payout ratio is presently 7.42%.

Insider Transactions at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the transaction, the senior vice president now directly owns 50,453 shares in the company, valued at approximately $1,684,625.67. This trade represents a 8.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares of the company's stock, valued at approximately $6,223,445.62. This trade represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,900 shares of company stock valued at $516,956. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.