Aurora Investment Counsel Invests $661,000 in International Seaways, Inc. (NYSE:INSW)

Aurora Investment Counsel bought a new position in International Seaways, Inc. (NYSE:INSW - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,817 shares of the transportation company's stock, valued at approximately $661,000.

Several other institutional investors have also recently made changes to their positions in INSW. EdgeRock Capital LLC purchased a new position in International Seaways in the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC purchased a new position in International Seaways in the 1st quarter worth about $27,000. Blue Trust Inc. purchased a new position in International Seaways in the 3rd quarter worth about $41,000. KBC Group NV increased its stake in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after buying an additional 428 shares during the period. Finally, Quarry LP increased 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 buying an additional 1,167 shares during the period. Institutional investors own 67.29% of the company's stock.

International Seaways Stock Down 0.3 %

Shares of International Seaways stock opened at $41.87 on Thursday. The firm's 50 day moving average price is $47.81 and its 200-day moving average price is $53.57. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52-week low of $41.22 and a 52-week high of $65.94. The company has a market cap of $2.06 billion, a P/E ratio of 4.05 and a beta of -0.06.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the previous year, the firm earned $1.99 EPS. The company's quarterly revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business 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 $1.32 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from International Seaways's previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 12.61%. International Seaways's dividend payout ratio (DPR) is 4.64%.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the sale, the senior vice president now owns 52,803 shares of the company's stock, valued at $2,705,625.72. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $723,780 in the last three months. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Stifel Nicolaus downgraded shares of International Seaways from a "buy" rating to a "hold" rating and cut their target price for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group cut their target price on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. StockNews.com downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, Fearnley Fonds raised shares of International Seaways to a "strong-buy" rating in a research report on Friday, September 27th. 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

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