Aurora Investment Counsel Purchases New Stake in International Seaways, Inc. (NYSE:INSW)

Aurora Investment Counsel purchased a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,817 shares of the transportation company's stock, valued at approximately $661,000.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new position in International Seaways during the 1st quarter worth about $27,000. EdgeRock Capital LLC acquired a new position in shares of International Seaways in the second quarter worth approximately $28,000. Blue Trust Inc. bought a new stake in International Seaways in the third quarter valued at approximately $41,000. KBC Group NV boosted its holdings in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after acquiring an additional 428 shares during the last quarter. Finally, Quarry LP increased its position in International Seaways by 408.0% during the 2nd 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 during the period. Institutional investors own 67.29% of the company's stock.

Insider Buying and Selling at International Seaways

In other 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 value of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares in the company, valued at $792,079.53. This represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 1,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total transaction of $49,750.00. Following the transaction, the senior vice president now directly owns 46,887 shares in the company, valued at $2,332,628.25. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,000 shares of company stock valued at $723,780. Corporate insiders own 1.90% of the company's stock.

International Seaways Stock Down 1.5 %

Shares of INSW traded down $0.63 during trading hours on Thursday, hitting $41.24. The stock had a trading volume of 284,846 shares, compared to its average volume of 577,298. International Seaways, Inc. has a 1-year low of $40.86 and a 1-year high of $65.94. The firm has a market capitalization of $2.03 billion, a P/E ratio of 4.05 and a beta of -0.06. The firm has a 50 day simple moving average of $47.81 and a 200-day simple moving average of $53.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million during the quarter, compared to analysts' expectations of $208.75 million. During the same quarter last year, the firm posted $1.99 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. Sell-side analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued 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 of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 12.80%. International Seaways's dividend payout ratio is presently 4.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INSW shares. Stifel Nicolaus lowered shares of International Seaways from a "buy" rating to a "hold" rating and reduced their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered their price objective on International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. StockNews.com lowered International Seaways from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.67.

International Seaways 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.