International Seaways, Inc. (NYSE:INSW) Stock Position Trimmed by Natixis Advisors LLC

Natixis Advisors LLC decreased its position in International Seaways, Inc. (NYSE:INSW) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,258 shares of the transportation company’s stock after selling 405 shares during the period. Natixis Advisors LLC’s holdings in International Seaways were worth $993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after acquiring an additional 286,295 shares in the last quarter. American Century Companies Inc. raised 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 valued at $73,034,000 after purchasing an additional 252,492 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after purchasing an additional 44,200 shares during the period. Victory Capital Management Inc. grew its position in International Seaways by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock valued at $50,482,000 after buying an additional 33,712 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in International Seaways during the 2nd quarter valued at about $21,875,000. Institutional investors own 67.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and cut their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group dropped their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

Insider Activity at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the transaction, the director now directly owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now owns 151,475 shares of the company’s stock, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $723,780 in the last quarter. 1.90% of the stock is owned by company insiders.

International Seaways Stock Performance

Shares of INSW opened at $39.54 on Wednesday. International Seaways, Inc. has a 12-month low of $39.46 and a 12-month high of $65.94. The stock has a market capitalization of $1.95 billion, a P/E ratio of 3.82 and a beta of -0.06. The firm’s 50 day moving average is $47.30 and its 200-day moving average is $53.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. The firm had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. Equities research analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 13.35%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

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.