Creative Planning Makes New $313,000 Investment in International Seaways, Inc. (NYSE:INSW)

Creative Planning acquired a new position in shares of International Seaways, Inc. (NYSE:INSW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,290 shares of the transportation company’s stock, valued at approximately $313,000.

Several other hedge funds also recently added to or reduced their stakes in INSW. EdgeRock Capital LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC acquired a new position in shares of International Seaways in the 1st quarter valued at about $27,000. Headlands Technologies LLC boosted its holdings 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 valued at $48,000 after buying an additional 574 shares during the period. CWM LLC boosted its holdings 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 buying an additional 476 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of International Seaways in the 1st quarter valued at about $108,000. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Performance

INSW stock opened at $49.08 on Friday. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 4.59 and a beta of -0.08. International Seaways, Inc. has a 12 month low of $42.08 and a 12 month high of $65.94. The firm has a 50 day moving average of $50.73 and a two-hundred day moving average of $55.23.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The firm had revenue of $257.40 million during 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%. International Seaways’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 earnings per share. As a group, equities analysts anticipate that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s dividend payout ratio is 4.49%.

Analysts Set New Price Targets

A number of research firms have issued reports on INSW. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Wednesday, August 7th. Finally, 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 research note on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $68.00.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at $7,779,265. This represents 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, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the sale, the senior vice president now directly owns 53,803 shares in the company, valued at approximately $2,754,175.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,000 shares of company stock worth $751,840. 1.90% of the stock is currently owned by corporate insiders.

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.