International Assets Investment Management LLC Takes $4.14 Million Position in International Seaways, Inc. (NYSE:INSW)

International Assets Investment Management LLC acquired a new position in International Seaways, Inc. (NYSE:INSW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 90,960 shares of the transportation company's stock, valued at approximately $4,137,000. International Assets Investment Management LLC owned approximately 0.19% of International Seaways as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. U S Global Investors Inc. boosted its stake in shares of International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company's stock worth $192,000 after purchasing an additional 2,500 shares during the period. Raymond James & Associates boosted its position in International Seaways by 92.0% in the 4th quarter. Raymond James & Associates now owns 11,671 shares of the transportation company's stock valued at $531,000 after buying an additional 5,593 shares during the period. SG Americas Securities LLC boosted its position in International Seaways by 216.8% in the 4th quarter. SG Americas Securities LLC now owns 15,757 shares of the transportation company's stock valued at $717,000 after buying an additional 10,783 shares during the period. Capricorn Fund Managers Ltd purchased a new stake in International Seaways in the 4th quarter valued at about $227,000. Finally, Vanguard Group Inc. raised its holdings in shares of International Seaways by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,581,058 shares of the transportation company's stock valued at $161,148,000 after purchasing an additional 181,287 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares in the company, valued at approximately $4,361,927.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Douglas D. Wheat sold 3,846 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now directly owns 26,056 shares of the company's stock, valued at approximately $1,334,588.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the transaction, the chief financial officer now directly owns 82,161 shares in the company, valued at $4,361,927.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock worth $3,073,978. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INSW has been the subject of several recent analyst reports. StockNews.com upgraded shares of International Seaways from a "hold" rating to a "buy" rating in a research note on Saturday, April 6th. Jefferies Financial Group reiterated a "buy" rating and set a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Trading Up 0.6 %

International Seaways stock traded up $0.29 during midday trading on Wednesday, hitting $52.75. 403,820 shares of the stock were exchanged, compared to its average volume of 531,460. International Seaways, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $55.59. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 4.69 and a beta of -0.05. The stock's 50-day simple moving average is $52.60 and its 200 day simple moving average is $49.27. 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 posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The business had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. On average, equities analysts anticipate that International Seaways, Inc. will post 9.27 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 9.10%. International Seaways's dividend payout ratio is presently 4.27%.

International Seaways 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.