International Seaways, Inc. (NYSE:INSW) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 30.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,695 shares of the transportation company's stock after selling 48,539 shares during the period. First Trust Advisors LP owned approximately 0.22% of International Seaways worth $3,906,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bfsg LLC lifted its position in shares of International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock valued at $99,000 after acquiring an additional 357 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in International Seaways by 3.6% in the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock valued at $375,000 after purchasing an additional 360 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of International Seaways by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock worth $2,428,000 after purchasing an additional 379 shares during the last quarter. DMC Group LLC raised its position in shares of International Seaways by 9.9% in the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock valued at $215,000 after buying an additional 540 shares during the last quarter. Finally, KBC Group NV raised its position in shares of International Seaways by 60.2% in the fourth 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 last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Trading Up 1.0 %

Shares of NYSE:INSW traded up $0.37 during trading on Thursday, reaching $36.71. 247,324 shares of the stock were exchanged, compared to its average volume of 746,262. The firm's 50-day moving average price is $33.26 and its 200 day moving average price is $37.07. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 3.55 and a beta of -0.01. 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.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. During the same period in the prior year, the firm earned $2.92 earnings per share. The firm's revenue was down 32.9% compared to the same quarter last year. On average, sell-side analysts anticipate that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways's dividend payout ratio is currently 5.72%.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the transaction, the senior vice president now directly owns 55,852 shares of the company's stock, valued at $1,892,824.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the sale, the senior vice president now owns 50,453 shares in the company, valued at approximately $1,684,625.67. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,400 shares of company stock worth $380,086 in the last three months. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on INSW. Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research note on Thursday. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

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.