4,000 Shares in International Seaways, Inc. (NYSE:INSW) Purchased by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC purchased a new position in International Seaways, Inc. (NYSE:INSW) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the transportation company’s stock, valued at approximately $213,000.

A number of other large investors also recently bought and sold shares of INSW. Bfsg LLC acquired a new position in International Seaways in the 4th quarter worth about $167,000. U S Global Investors Inc. raised its holdings in International Seaways by 144.5% in 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. Cim LLC acquired a new position in International Seaways in the 4th quarter worth about $192,000. Peterson Wealth Services acquired a new position in International Seaways in the 4th quarter worth about $203,000. Finally, Los Angeles Capital Management LLC acquired a new position in International Seaways in the 1st quarter worth about $203,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INSW. Deutsche Bank Aktiengesellschaft increased their target price on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 9th. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus increased their target price on International Seaways from $66.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, International Seaways has a consensus rating of “Buy” and an average target price of $63.75.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total value of $194,100.00. Following the completion of the sale, the senior vice president now owns 54,803 shares of the company’s stock, valued at $3,545,754.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now directly owns 69,010 shares in the company, valued at $3,684,443.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William F. Nugent sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total value of $194,100.00. Following the completion of the transaction, the senior vice president now owns 54,803 shares of the company’s stock, valued at $3,545,754.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,879 shares of company stock valued at $4,336,583. 1.90% of the stock is currently owned by insiders.

International Seaways Price Performance

NYSE:INSW opened at $59.13 on Friday. International Seaways, Inc. has a one year low of $35.51 and a one year high of $65.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. The stock has a market cap of $2.92 billion, a PE ratio of 5.53 and a beta of -0.04. The stock has a 50 day moving average price of $59.93 and a 200 day moving average price of $54.20.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The firm had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same quarter last year, the firm earned $3.30 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts expect that International Seaways, Inc. will post 10.3 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 11.84%. The ex-dividend date was Wednesday, June 12th. This is a boost from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

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.