Two Sigma Advisers LP Sells 123,249 Shares of International Seaways, Inc. (NYSE:INSW)

Two Sigma Advisers LP reduced its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 84.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INSW. Bridgeway Capital Management LLC bought a new stake in International Seaways during the 4th quarter valued at about $14,269,000. Vanguard Group Inc. lifted its stake in shares of International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after buying an additional 369,145 shares during the period. Clearbridge Investments LLC purchased a new stake in International Seaways in the fourth quarter valued at approximately $11,374,000. Empowered Funds LLC boosted its position in International Seaways by 470.8% in the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock worth $9,813,000 after purchasing an additional 225,196 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in International Seaways by 685.6% during the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock valued at $8,070,000 after buying an additional 195,961 shares during the period. Institutional investors own 67.29% of the company's stock.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 179,557 shares of the company's stock, valued at approximately $6,223,445.62. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $37.13, for a total transaction of $37,130.00. Following the transaction, the senior vice president now directly owns 60,752 shares in the company, valued at $2,255,721.76. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,900 shares of company stock worth $516,956 over the last 90 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 price target on shares of International Seaways in a research note on Thursday, May 8th.

International Seaways Stock Performance

Shares of INSW stock traded down $0.32 during mid-day trading on Friday, hitting $37.34. 637,047 shares of the stock were exchanged, compared to its average volume of 750,429. The stock's fifty day simple moving average is $34.91 and its two-hundred day simple moving average is $36.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $62.54. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.61 and a beta of -0.01.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. The business had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business's revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.92 EPS. On average, analysts forecast that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently announced 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 1.29%. 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.