Dimensional Fund Advisors LP Cuts Position in International Seaways, Inc. (NYSE:INSW)

Dimensional Fund Advisors LP reduced its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,204,603 shares of the transportation company’s stock after selling 28,176 shares during the quarter. Dimensional Fund Advisors LP owned 6.49% of International Seaways worth $189,489,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of International Seaways by 44.0% during the 2nd quarter. Federated Hermes Inc. now owns 102,650 shares of the transportation company’s stock valued at $6,070,000 after acquiring an additional 31,382 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after purchasing an additional 252,492 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of International Seaways in the second quarter worth about $1,735,000. Acadian Asset Management LLC purchased a new stake in shares of International Seaways in the second quarter worth about $2,113,000. Finally, Savant Capital LLC grew its stake in shares of International Seaways by 35.8% in the second quarter. Savant Capital LLC now owns 8,380 shares of the transportation company’s stock valued at $496,000 after buying an additional 2,210 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Up 2.3 %

NYSE INSW opened at $51.78 on Friday. The company’s fifty day simple moving average is $51.97 and its 200-day simple moving average is $55.33. International Seaways, Inc. has a 52 week low of $40.68 and a 52 week high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.56 billion, a P/E ratio of 4.84 and a beta of -0.07.

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

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors 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 yield of 0.93%. International Seaways’s dividend payout ratio is presently 4.49%.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $51.19, for a total value of $51,190.00. Following the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares in the company, valued at $7,779,265. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the sale, the senior vice president now owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $660,990 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a research report on Wednesday, August 7th. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and an average price target of $64.75.

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.