Vest Financial LLC Takes $389,000 Position in International Seaways, Inc. (NYSE:INSW)

Vest Financial LLC acquired a new stake in International Seaways, Inc. (NYSE:INSW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,706 shares of the transportation company's stock, valued at approximately $389,000.

Other large investors also recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after buying an additional 653 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at about $563,000. Bleakley Financial Group LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at about $610,000. State of Alaska Department of Revenue purchased a new stake in shares of International Seaways in the fourth quarter valued at about $804,000. Finally, Empowered Funds LLC raised its holdings in shares of International Seaways by 470.8% in the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock valued at $9,813,000 after buying an additional 225,196 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now directly owns 50,453 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $37.13, for a total transaction of $37,130.00. Following the completion of the transaction, the senior vice president now directly owns 60,752 shares of the company's stock, valued at approximately $2,255,721.76. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,900 shares of company stock valued at $516,956 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

International Seaways Stock Performance

Shares of NYSE:INSW traded up $0.85 on Wednesday, reaching $37.89. The company's stock had a trading volume of 797,380 shares, compared to its average volume of 751,966. The stock's 50-day moving average is $35.28 and its two-hundred day moving average is $36.04. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $60.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a market capitalization of $1.87 billion, a P/E ratio of 3.66 and a beta of 0.05.

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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. The firm had revenue of $178.34 million during 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 firm'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 earnings per share. As a group, sell-side analysts forecast that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.27%. International Seaways's dividend payout ratio is currently 7.42%.

Analyst Ratings Changes

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.

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.