Vident Advisory LLC Raises Holdings in International Seaways, Inc. (NYSE:INSW)

Vident Advisory LLC increased its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 85.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,947 shares of the transportation company's stock after purchasing an additional 10,113 shares during the quarter. Vident Advisory LLC's holdings in International Seaways were worth $789,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in International Seaways during the 4th quarter worth $29,000. Larson Financial Group LLC purchased a new position in shares of International Seaways in the fourth quarter worth about $37,000. Quarry LP boosted its position in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after acquiring an additional 852 shares during the last quarter. R Squared Ltd purchased a new stake in International Seaways during the 4th quarter valued at about $59,000. Finally, KBC Group NV grew its stake in International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after acquiring an additional 653 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Trading Up 0.9%

Shares of NYSE INSW traded up $0.34 during trading on Thursday, hitting $36.64. 257,740 shares of the company were exchanged, compared to its average volume of 744,398. The company has a fifty day moving average price of $34.39 and a 200-day moving average price of $36.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market capitalization of $1.81 billion, a PE ratio of 3.54 and a beta of -0.01. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.32.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data 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%. International Seaways's revenue was down 32.9% compared to the same quarter last year. During the same period last year, the business earned $2.92 earnings per share. As a group, equities research analysts expect that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company 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. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's payout ratio is presently 7.42%.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $38.15, for a total value of $76,300.00. Following the sale, the chief executive officer now owns 196,771 shares in the company, valued at approximately $7,506,813.65. The trade was a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways 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 represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,900 shares of company stock worth $513,716. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a "buy" rating and set 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.