Hsbc Holdings PLC Cuts Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Hsbc Holdings PLC lowered its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 56.0% in the fourth quarter, according to its most recent 13F filing with the 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 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC purchased a new position in International Seaways in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new position in shares of International Seaways during the 4th quarter valued at about $59,000. KBC Group NV raised its stake in shares of International Seaways by 60.2% during the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after acquiring an additional 653 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in International Seaways in the fourth quarter worth $69,000. Finally, SBI Securities Co. Ltd. bought a new stake in International Seaways in the fourth quarter valued at approximately $82,000. Institutional investors own 67.29% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the transaction, the chief executive officer now directly owns 179,557 shares in the company, valued at $6,223,445.62. The trade was a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways 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 transaction, the senior vice president now owns 50,453 shares in the company, valued at approximately $1,684,625.67. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,400 shares of company stock worth $380,086. Insiders own 1.90% of the company's stock.

International Seaways Trading Up 3.2 %

Shares of NYSE:INSW traded up $1.18 during trading on Friday, reaching $37.78. The company's stock had a trading volume of 714,821 shares, compared to its average volume of 743,611. The stock has a market capitalization of $1.86 billion, a PE ratio of 3.65 and a beta of -0.01. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm's 50 day simple moving average is $33.40 and its two-hundred day simple moving average is $36.86. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.92 earnings per share. On average, research analysts predict that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is currently 5.72%.

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.