Victory Capital Management Inc. Acquires 99,931 Shares of International Seaways Inc. (NYSE:INSW)

Victory Capital Management Inc. lifted its position in International Seaways Inc. (NYSE:INSW - Free Report) by 51.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,357 shares of the transportation company's stock after acquiring an additional 99,931 shares during the period. Victory Capital Management Inc. owned about 0.60% of International Seaways worth $9,773,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after acquiring an additional 596 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of International Seaways by 139.9% in the first quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock worth $690,000 after acquiring an additional 12,128 shares in the last quarter. KBC Group NV increased its position in shares of International Seaways by 61.2% in the first quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock worth $93,000 after acquiring an additional 1,063 shares in the last quarter. Deutsche Bank AG increased its position in shares of International Seaways by 46.2% in the fourth quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock worth $1,257,000 after acquiring an additional 11,050 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in shares of International Seaways in the fourth quarter worth approximately $1,121,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Up 1.8%

INSW traded up $0.74 on Monday, reaching $41.01. 373,852 shares of the company traded hands, compared to its average volume of 520,819. The stock's 50 day moving average price is $38.51 and its 200-day moving average price is $36.58. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $56.66. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 6.34 and a beta of 0.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The firm had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. During the same period in the previous year, the firm posted $2.92 earnings per share. The firm's revenue was down 32.9% on a year-over-year basis. On average, sell-side analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways's dividend payout ratio is 7.42%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total value of $77,240.00. Following the completion of the sale, the chief executive officer directly owned 192,771 shares of the company's stock, valued at $7,444,816.02. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $37.00, for a total transaction of $37,000.00. Following the completion of the sale, the senior vice president directly owned 59,752 shares of the company's stock, valued at $2,210,824. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock valued at $473,730 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

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.