Northern Trust Corp Grows Holdings in International Seaways, Inc. (NYSE:INSW)

Northern Trust Corp lifted its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,290 shares of the transportation company's stock after buying an additional 55,824 shares during the quarter. Northern Trust Corp owned approximately 0.86% of International Seaways worth $15,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC purchased a new stake in International Seaways in the fourth quarter worth about $37,000. Quarry LP grew its stake in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after buying an additional 852 shares during the last quarter. R Squared Ltd purchased a new stake in shares of International Seaways in the 4th quarter worth approximately $59,000. KBC Group NV grew its stake in shares of International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after buying an additional 653 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of International Seaways in the fourth quarter worth $69,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Performance

Shares of INSW opened at $38.45 on Thursday. The business's fifty day simple moving average is $33.63 and its two-hundred day simple moving average is $36.77. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $65.94. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 3.71 and a beta of -0.01.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 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 analysts' expectations of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways's revenue was down 32.9% compared to the same quarter last year. During the same period last year, the firm posted $2.92 earnings per share. Research analysts anticipate that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, June 12th. International Seaways's dividend payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of recent research reports. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research report on Friday, January 24th.

Insider Buying and Selling

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm'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 transaction, the senior vice president now directly owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now directly owns 50,453 shares in the company, valued at $1,684,625.67. The trade was a 8.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have 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.

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