International Seaways, Inc. (NYSE:INSW) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,970 shares of the transportation company’s stock after buying an additional 966 shares during the quarter. MML Investors Services LLC’s holdings in International Seaways were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. acquired a new position in International Seaways during the third quarter worth about $41,000. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after purchasing an additional 305 shares in the last quarter. KBC Group NV boosted its holdings in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares during the last quarter. Quarry LP grew its position in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 1,167 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of International Seaways by 106.5% in the third quarter. CWM LLC now owns 3,035 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 1,565 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INSW has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Stock Performance

Shares of International Seaways stock opened at $36.92 on Thursday. The firm has a market cap of $1.82 billion, a PE ratio of 3.57 and a beta of -0.10. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52 week low of $32.11 and a 52 week high of $65.94. The business’s fifty day simple moving average is $40.91 and its 200-day simple moving average is $49.17.

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

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 14.30%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 45,687 shares of the company’s stock, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company’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 sale, the senior vice president now directly owns 52,803 shares in the company, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,200 shares of company stock valued at $362,622 over the last quarter. 1.90% of the stock is owned by company 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.