Healthcare of Ontario Pension Plan Trust Fund Makes New $8.78 Million Investment in International Seaways, Inc. (NYSE:INSW)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in International Seaways, Inc. (NYSE:INSW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 148,500 shares of the transportation company’s stock, valued at approximately $8,781,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.30% of International Seaways at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INSW. Lighthouse Investment Partners LLC grew its holdings in International Seaways by 73.3% in the 4th quarter. Lighthouse Investment Partners LLC now owns 64,219 shares of the transportation company’s stock valued at $2,921,000 after buying an additional 27,153 shares during the period. Frontier Capital Management Co. LLC grew its holdings in International Seaways by 20.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after buying an additional 139,569 shares during the period. GeoSphere Capital Management LLC purchased a new stake in International Seaways in the 4th quarter valued at about $2,501,000. Cim LLC acquired a new position in shares of International Seaways in the 4th quarter valued at about $192,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of International Seaways by 57.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after purchasing an additional 147,740 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the topic of several research analyst reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. Finally, Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.00.

International Seaways Stock Performance

Shares of INSW opened at $53.50 on Friday. The business’s 50 day moving average is $50.97 and its two-hundred day moving average is $55.29. International Seaways, Inc. has a 52-week low of $40.99 and a 52-week high of $65.94. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 5.00 and a beta of -0.08. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35.

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

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Wednesday, September 11th. International Seaways’s payout ratio is 4.49%.

Insider Activity

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,000 shares of company stock worth $653,400. 1.90% of the stock is currently owned by insiders.

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.