International Seaways, Inc. (NYSE:INSW) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC lessened its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 92.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,123 shares of the transportation company's stock after selling 211,371 shares during the period. Frontier Capital Management Co. LLC's holdings in International Seaways were worth $615,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after buying an additional 174,695 shares during the last quarter. Franklin Resources Inc. grew its position in International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock valued at $2,428,000 after acquiring an additional 379 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in International Seaways by 1,677.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock worth $3,987,000 after purchasing an additional 104,704 shares during the period. SG Americas Securities LLC bought a new stake in shares of International Seaways during the fourth quarter worth $735,000. Finally, KBC Group NV boosted its position in International Seaways by 60.2% in the 4th 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 period. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INSW. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group restated a "buy" rating and set a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.

International Seaways Stock Down 0.5%

International Seaways stock traded down $0.21 during midday trading on Thursday, hitting $38.19. 242,229 shares of the company's stock were exchanged, compared to its average volume of 741,381. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $65.94. 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 company has a market cap of $1.88 billion, a PE ratio of 3.69 and a beta of -0.01. The firm has a 50-day moving average of $33.63 and a two-hundred day moving average of $36.77.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to analyst estimates 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 company posted $2.92 earnings per share. As a group, analysts expect that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 yield of 1.26%. The ex-dividend date is Thursday, June 12th. International Seaways's dividend payout ratio is currently 7.42%.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the transaction, the senior vice president now owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $57,330.00. Following the transaction, the senior vice president now owns 55,893 shares in the company, valued at $2,136,230.46. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,900 shares of company stock worth $437,416. 1.90% of the stock is owned by 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.