International Seaways, Inc. (NYSE:INSW) Holdings Raised by Barclays PLC

Barclays PLC boosted its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 206.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,393 shares of the transportation company's stock after purchasing an additional 174,695 shares during the quarter. Barclays PLC owned approximately 0.53% of International Seaways worth $13,374,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bailard Inc. raised its holdings in shares of International Seaways by 2.4% during the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company's stock valued at $752,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company's stock valued at $44,000 after acquiring an additional 305 shares in the last quarter. Consolidated Portfolio Review Corp boosted its position in International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company's stock worth $492,000 after acquiring an additional 312 shares during the period. KBC Group NV boosted its position in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after acquiring an additional 428 shares during the period. Finally, Cynosure Group LLC grew its stake in shares of International Seaways by 6.6% in the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock worth $370,000 after purchasing an additional 447 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction 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 transaction, the senior vice president now owns 52,803 shares in the company, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 1,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the sale, the senior vice president now directly owns 45,687 shares of the company's stock, valued at approximately $1,777,681.17. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,200 shares of company stock worth $362,622 in the last three months. 1.90% of the stock is currently owned by insiders.

International Seaways Price Performance

Shares of International Seaways stock traded down $1.02 during trading on Monday, hitting $33.95. The stock had a trading volume of 760,053 shares, compared to its average volume of 587,336. The business has a fifty day moving average of $43.02 and a two-hundred day moving average of $50.40. The firm has a market cap of $1.67 billion, a P/E ratio of 3.28 and a beta of -0.10. International Seaways, Inc. has a fifty-two week low of $33.60 and a fifty-two week high of $65.94. 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 issued its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.15. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. International Seaways's revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 EPS. On average, sell-side analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal 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 issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 15.55%. This is a boost from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. International Seaways's dividend payout ratio (DPR) is presently 4.64%.

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.