Knights of Columbus Asset Advisors LLC Makes New Investment in International Seaways, Inc. (NYSE:INSW)

Knights of Columbus Asset Advisors LLC purchased a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 92,043 shares of the transportation company's stock, valued at approximately $4,186,000. Knights of Columbus Asset Advisors LLC owned approximately 0.19% of International Seaways at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swiss National Bank grew its stake in shares of International Seaways by 0.4% in the 3rd quarter. Swiss National Bank now owns 75,200 shares of the transportation company's stock worth $3,384,000 after purchasing an additional 300 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of International Seaways by 55.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company's stock worth $39,000 after purchasing an additional 361 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of International Seaways by 3.7% in the 1st quarter. WINTON GROUP Ltd now owns 10,652 shares of the transportation company's stock worth $444,000 after purchasing an additional 379 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of International Seaways by 29.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company's stock worth $62,000 after purchasing an additional 384 shares during the last quarter. Finally, Toroso Investments LLC grew its stake in shares of International Seaways by 5.2% in the 1st quarter. Toroso Investments LLC now owns 9,178 shares of the transportation company's stock worth $383,000 after purchasing an additional 455 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

International Seaways Stock Performance

Shares of International Seaways stock traded up $1.42 on Friday, reaching $53.03. The stock had a trading volume of 508,164 shares, compared to its average volume of 405,607. The business's 50-day moving average price is $52.64 and its two-hundred day moving average price is $49.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. 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 cap of $2.59 billion, a P/E ratio of 4.71 and a beta of -0.05.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $239.36 million. On average, sell-side analysts forecast that International Seaways, Inc. will post 9.27 EPS for the current year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 9.05%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways's dividend payout ratio (DPR) is currently 4.27%.

Insider Buying and Selling

In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the sale, the director now owns 26,056 shares of the company's stock, valued at approximately $1,334,588.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the sale, the director now owns 26,056 shares of the company's stock, valued at approximately $1,334,588.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the completion of the sale, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. 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 company insiders.

Analyst Ratings Changes

INSW has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of International Seaways from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday. StockNews.com downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $66.00 target price on shares of International Seaways in a research report 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.