Allspring Global Investments Holdings LLC Lowers Holdings in International Seaways, Inc. (NYSE:INSW)

Allspring Global Investments Holdings LLC decreased its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 85.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,847 shares of the transportation company's stock after selling 124,791 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in International Seaways were worth $948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INSW. U S Global Investors Inc. purchased a new position in shares of International Seaways in the 3rd quarter worth approximately $78,000. Counterpoint Mutual Funds LLC purchased a new position in shares of International Seaways in the 3rd quarter worth approximately $113,000. Baker Ellis Asset Management LLC purchased a new position in shares of International Seaways in the 3rd quarter worth approximately $220,000. SG Americas Securities LLC bought a new stake in shares of International Seaways during the 3rd quarter worth approximately $224,000. Finally, Capricorn Fund Managers Ltd bought a new stake in shares of International Seaways during the 4th quarter worth approximately $227,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares in the company, valued at approximately $4,117,521.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Lois K. Zabrocky sold 13,760 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the transaction, the chief executive officer now directly owns 148,942 shares in the company, valued at approximately $7,874,563.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now owns 75,927 shares in the company, valued at $4,117,521.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,846 shares of company stock worth $3,073,978. 2.00% of the stock is currently owned by company insiders.

International Seaways Stock Down 0.7 %

NYSE INSW traded down $0.37 on Wednesday, reaching $53.54. 622,056 shares of the stock traded hands, compared to its average volume of 533,301. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. The company has a fifty day moving average price of $52.69 and a 200-day moving average price of $49.62. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 4.76 and a beta of -0.05. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $55.59.

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 analysts' consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. As a group, research analysts forecast that International Seaways, Inc. will post 9.42 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.97%. International Seaways's dividend payout ratio is presently 4.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INSW. Stifel Nicolaus raised their price target on International Seaways from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, April 19th. Jefferies Financial Group reissued a "buy" rating and set a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th. Finally, StockNews.com lowered International Seaways from a "buy" rating to a "hold" rating in a research note on Wednesday, April 17th.

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.