International Seaways, Inc. (NYSE:INSW) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in International Seaways, Inc. (NYSE:INSW) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 430,658 shares of the transportation company’s stock after buying an additional 32,825 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.87% of International Seaways worth $22,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of International Seaways in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC purchased a new stake in International Seaways during the 1st quarter worth $27,000. Blue Trust Inc. purchased a new position in International Seaways in the third quarter valued at about $41,000. KBC Group NV raised its stake in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares in the last quarter. Finally, Quarry LP raised its position in shares of International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

International Seaways Price Performance

INSW stock opened at $37.56 on Friday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 3.63 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company has a 50 day simple moving average of $45.36 and a 200 day simple moving average of $51.97. International Seaways, Inc. has a 1 year low of $37.33 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $1.99 earnings per share. 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 given a dividend of $1.32 per share. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.06%. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 1,200 shares of International Seaways stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total value of $46,692.00. Following the transaction, the senior vice president now owns 45,687 shares in the company, valued at $1,777,681.17. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares in the company, valued at $2,705,625.72. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,200 shares of company stock worth $758,822 over the last quarter. 1.90% of the stock is currently owned by company insiders.

International Seaways 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.