Vanguard Group Inc. Acquires 181,287 Shares of International Seaways, Inc. (NYSE:INSW)

Vanguard Group Inc. boosted its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,581,058 shares of the transportation company's stock after buying an additional 181,287 shares during the quarter. Vanguard Group Inc. owned 7.32% of International Seaways worth $161,148,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of INSW. Millennium Management LLC purchased a new position in International Seaways during the second quarter worth about $17,047,000. Two Sigma Advisers LP boosted its stake in shares of International Seaways by 2,140.5% in the fourth quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company's stock valued at $17,957,000 after purchasing an additional 463,400 shares during the period. Renaissance Technologies LLC purchased a new position in shares of International Seaways in the fourth quarter valued at approximately $13,907,000. Frontier Capital Management Co. LLC purchased a new position in shares of International Seaways in the first quarter valued at approximately $13,924,000. Finally, Victory Capital Management Inc. boosted its stake in shares of International Seaways by 405.7% in the fourth quarter. Victory Capital Management Inc. now owns 372,882 shares of the transportation company's stock valued at $13,804,000 after purchasing an additional 299,149 shares during the period. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 16,240 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.02, for a total transaction of $844,804.80. Following the sale, the chief executive officer now owns 136,260 shares of the company's stock, valued at $7,088,245.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction on Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the transaction, the director now directly owns 19,098 shares of the company's stock, valued at approximately $1,013,912.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.02, for a total transaction of $844,804.80. Following the sale, the chief executive officer now owns 136,260 shares of the company's stock, valued at approximately $7,088,245.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is owned by corporate insiders.

International Seaways Stock Down 0.7 %

NYSE:INSW traded down $0.36 during mid-day trading on Tuesday, hitting $53.84. The stock had a trading volume of 392,131 shares, compared to its average volume of 549,819. The stock has a 50-day simple moving average of $52.50 and a two-hundred day simple moving average of $48.57. The company has a market capitalization of $2.63 billion, a PE ratio of 4.79 and a beta of -0.05. International Seaways, Inc. has a twelve month low of $34.77 and a twelve month high of $54.95. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. The firm had revenue of $250.73 million for the quarter, compared to analysts' expectations of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. On average, equities research analysts anticipate that International Seaways, Inc. will post 9.36 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 8.92%. International Seaways's payout ratio is currently 4.27%.

Analysts Set New Price Targets

INSW has been the subject of several recent research reports. StockNews.com lowered shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Friday. Jefferies Financial Group reissued a "buy" rating and issued a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th.

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.