Federated Hermes Inc. Purchases 31,382 Shares of International Seaways, Inc. (NYSE:INSW)

Federated Hermes Inc. increased its position in International Seaways, Inc. (NYSE:INSW) by 44.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,650 shares of the transportation company’s stock after buying an additional 31,382 shares during the quarter. Federated Hermes Inc. owned 0.21% of International Seaways worth $6,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in INSW. EdgeRock Capital LLC acquired a new position in shares of International Seaways in the second quarter worth approximately $28,000. EverSource Wealth Advisors LLC bought a new position in International Seaways during the 1st quarter worth approximately $27,000. Headlands Technologies LLC lifted its position in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. CWM LLC boosted its stake in shares of International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 476 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of International Seaways during the first quarter worth $108,000. Institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the completion of the sale, the chief executive officer now owns 155,475 shares in the company, valued at approximately $7,820,392.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.30, for a total transaction of $100,600.00. Following the completion of the sale, the chief executive officer now directly owns 155,475 shares of the company’s stock, valued at approximately $7,820,392.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the sale, the chief financial officer now owns 38,849 shares in the company, valued at $2,174,378.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,000 shares of company stock worth $660,990. 1.90% of the stock is owned by insiders.

International Seaways Price Performance

INSW stock opened at $50.61 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The business has a 50-day simple moving average of $52.07 and a two-hundred day simple moving average of $55.35. The company has a market capitalization of $2.50 billion, a P/E ratio of 4.73 and a beta of -0.07. International Seaways, Inc. has a 52-week low of $40.68 and a 52-week high of $65.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The company had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same quarter last year, the company posted $3.12 EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts expect that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. International Seaways’s dividend payout ratio is currently 4.49%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INSW. Stifel Nicolaus boosted their target price on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $64.75.

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.