Acadian Asset Management LLC Makes New $2.11 Million Investment in International Seaways, Inc. (NYSE:INSW)

Acadian Asset Management LLC bought a new stake in International Seaways, Inc. (NYSE:INSW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 35,771 shares of the transportation company’s stock, valued at approximately $2,113,000. Acadian Asset Management LLC owned 0.07% of International Seaways as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of International Seaways by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after acquiring an additional 286,295 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of International Seaways by 57.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock worth $18,367,000 after buying an additional 147,740 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after buying an additional 139,569 shares in the last quarter. Boston Partners boosted its holdings in shares of International Seaways by 433.9% during the 1st quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock valued at $8,718,000 after acquiring an additional 133,102 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in International Seaways by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock worth $145,464,000 after acquiring an additional 122,642 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Up 0.4 %

International Seaways stock opened at $49.32 on Friday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 4.61 and a beta of -0.07. International Seaways, Inc. has a 52-week low of $40.68 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The firm has a 50 day moving average price of $52.45 and a two-hundred day moving average price of $55.38.

International Seaways (NYSE:INSW) last announced its earnings results 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). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same period in the prior year, the business earned $3.12 EPS. International Seaways’s quarterly revenue was down 11.9% on a year-over-year basis. Equities analysts predict that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.48 annualized dividend and a yield of 0.97%. International Seaways’s dividend payout ratio is currently 4.49%.

Insiders Place Their Bets

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $58.83, for a total value of $58,830.00. Following the transaction, the chief financial officer now directly owns 39,849 shares of the company’s stock, valued at $2,344,316.67. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.83, for a total value of $58,830.00. Following the completion of the sale, the chief financial officer now directly owns 39,849 shares of the company’s stock, valued at $2,344,316.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction dated 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 owns 16,109 shares in the company, valued at approximately $792,079.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,000 shares of company stock worth $560,390. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price target on shares of International Seaways in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price objective on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.75.

About International Seaways

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.