Vest Financial LLC Makes New $389,000 Investment in International Seaways, Inc. (NYSE:INSW)

Vest Financial LLC purchased a new position in International Seaways, Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,706 shares of the transportation company's stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of INSW. Vanguard Group Inc. raised 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 purchasing an additional 369,145 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of International Seaways by 9.8% in the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock valued at $58,681,000 after buying an additional 146,145 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 acquiring an additional 32,953 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of International Seaways by 1.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock worth $15,450,000 after acquiring an additional 7,325 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

International Seaways Trading Up 0.8%

Shares of International Seaways stock traded up $0.30 during trading on Thursday, hitting $38.23. The stock had a trading volume of 474,118 shares, compared to its average volume of 750,859. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $60.99. The stock has a 50 day simple moving average of $35.28 and a 200 day simple moving average of $36.04. 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 company has a market capitalization of $1.89 billion, a PE ratio of 3.69 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 50.91% and a return on equity of 24.65%. The company's quarterly revenue was down 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.92 EPS. On average, research analysts expect that International Seaways, Inc. will post 7.77 EPS 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. Shareholders 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 dividend on an annualized basis and a yield of 1.26%. International Seaways's payout ratio is presently 7.42%.

Insider Buying and Selling at International Seaways

In other news, 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 transaction, the senior vice president now directly owns 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock valued at $370,040 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

International Seaways Company 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.