Blue Trust Inc. Takes $41,000 Position in International Seaways, Inc. (NYSE:INSW)

Blue Trust Inc. acquired a new stake in International Seaways, Inc. (NYSE:INSW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 786 shares of the transportation company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of INSW. EdgeRock Capital LLC bought a new stake in shares of International Seaways during the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways during the 1st quarter worth about $27,000. Headlands Technologies LLC raised its stake in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares in the last quarter. Quarry LP raised its stake in International Seaways by 408.0% in 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 in the last quarter. Finally, CWM LLC raised its stake in International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of NYSE:INSW opened at $43.57 on Friday. The firm has a 50 day moving average of $49.89 and a 200-day moving average of $54.67. The stock has a market capitalization of $2.17 billion, a PE ratio of 4.15 and a beta of -0.08. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. International Seaways, Inc. has a 12 month low of $42.08 and a 12 month high of $65.94.

International Seaways (NYSE:INSW) last posted 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 business had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same period in the previous year, the firm earned $3.12 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts predict that International Seaways, Inc. will post 8.5 EPS for the current fiscal year.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Wednesday, September 11th. International Seaways’s dividend payout ratio is currently 4.57%.

Analysts Set New Price Targets

Several analysts have weighed in on INSW shares. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. Stifel Nicolaus cut shares of 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 research note on Wednesday, October 23rd. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

Insider Activity

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction 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 of the company’s stock, valued at $792,079.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction 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 owns 16,109 shares in the company, valued at approximately $792,079.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the completion of the sale, the senior vice president now owns 51,803 shares of the company’s stock, valued at approximately $2,230,119.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,000 shares of company stock valued at $738,920. 1.90% of the stock is currently owned by insiders.

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.