Stifel Financial Corp Increases Position in International Seaways, Inc. (NYSE:INSW)

Stifel Financial Corp lifted its position in shares of International Seaways, Inc. (NYSE:INSW) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,583 shares of the transportation company’s stock after purchasing an additional 2,627 shares during the period. Stifel Financial Corp’s holdings in International Seaways were worth $494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates lifted its holdings in International Seaways by 21.0% during the 2nd quarter. Raymond James & Associates now owns 44,083 shares of the transportation company’s stock worth $2,607,000 after buying an additional 7,646 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in International Seaways by 38.1% during the second quarter. Bank of New York Mellon Corp now owns 209,135 shares of the transportation company’s stock worth $12,366,000 after purchasing an additional 57,706 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in International Seaways by 83.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 37,814 shares of the transportation company’s stock worth $2,236,000 after purchasing an additional 17,172 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in International Seaways by 12.8% in the second quarter. Principal Financial Group Inc. now owns 22,462 shares of the transportation company’s stock valued at $1,328,000 after purchasing an additional 2,556 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in International Seaways in the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Price Performance

INSW stock opened at $36.24 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.78 billion, a P/E ratio of 3.50 and a beta of -0.10. The business has a 50 day simple moving average of $40.66 and a 200-day simple moving average of $49.08. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The firm 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%. International Seaways’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.99 EPS. As a group, equities analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.32 per share. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 14.57%. International Seaways’s dividend payout ratio is 4.64%.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $41.83, for a total value of $83,660.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $39.54, for a total transaction of $39,540.00. Following the transaction, the senior vice president now directly owns 50,803 shares of the company’s stock, valued at $2,008,750.62. This represents a 1.93 % 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 currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on INSW shares. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reduced their price target on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and an average price target of $60.67.

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.