International Seaways, Inc. (NYSE:INSW) Stake Boosted by KBC Group NV

KBC Group NV raised its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 65.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,084 shares of the transportation company’s stock after purchasing an additional 428 shares during the period. KBC Group NV’s holdings in International Seaways were worth $56,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in INSW. Millennium Management LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at about $21,875,000. Vanguard Group Inc. raised its position in shares of International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares during the period. American Century Companies Inc. raised its position in shares of International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after purchasing an additional 252,492 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of International Seaways in the 2nd quarter worth approximately $8,781,000. Finally, Boston Partners boosted its position in 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 purchasing an additional 133,102 shares during the period. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value 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 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the transaction, the senior vice president now directly owns 53,803 shares in the company, valued at $2,754,175.57. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock valued at $723,780 over the last three months. Insiders own 1.90% of the company’s stock.

International Seaways Trading Up 0.1 %

NYSE:INSW opened at $41.40 on Friday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 4.00 and a beta of -0.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The business has a fifty day moving average of $47.50 and a 200-day moving average of $53.38. International Seaways, Inc. has a 1 year low of $40.86 and a 1 year high of $65.94.

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

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 12.75%. International Seaways’s dividend payout ratio is currently 4.64%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INSW shares. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. 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 report on Wednesday, October 23rd. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.67.

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.