Hsbc Holdings PLC Has $432,000 Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Hsbc Holdings PLC reduced its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 56.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,135 shares of the transportation company's stock after selling 15,429 shares during the period. Hsbc Holdings PLC's holdings in International Seaways were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bfsg LLC grew its position in shares of International Seaways by 14.9% in the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock worth $99,000 after acquiring an additional 357 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of International Seaways by 3.6% in the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after acquiring an additional 360 shares in the last quarter. Franklin Resources Inc. grew its position in shares of International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock worth $2,428,000 after acquiring an additional 379 shares in the last quarter. DMC Group LLC grew its position in shares of International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock worth $215,000 after acquiring an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of International Seaways by 30.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock worth $88,000 after acquiring an additional 564 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $34.01, for a total value of $34,010.00. Following the sale, the senior vice president now owns 61,752 shares of the company's stock, valued at approximately $2,100,185.52. The trade was a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Derek G. Solon sold 4,400 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares in the company, valued at $1,684,625.67. This represents a 8.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,400 shares of company stock worth $380,086 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

International Seaways Stock Performance

NYSE:INSW traded up $0.15 during midday trading on Tuesday, reaching $38.15. 228,329 shares of the company traded hands, compared to its average volume of 741,716. International Seaways, Inc. has a twelve month low of $27.20 and a twelve month high of $65.94. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 3.69 and a beta of -0.01. 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 company has a fifty day moving average price of $33.49 and a 200 day moving average price of $36.75.

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, beating analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The business had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter in the previous year, the firm posted $2.92 EPS. The business's revenue for the quarter was down 32.9% compared to the same quarter last year. On average, analysts expect that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed 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. 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 dividend payout ratio is currently 7.42%.

Wall Street Analyst Weigh In

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

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.