International Seaways, Inc. (NYSE:INSW) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 88.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,553 shares of the transportation company's stock after selling 114,982 shares during the quarter. BNP Paribas Financial Markets' holdings in International Seaways were worth $750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. EdgeRock Capital LLC acquired a new position in shares of International Seaways in the second quarter valued at approximately $28,000. Blue Trust Inc. purchased a new position in International Seaways in the 3rd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its stake in shares of International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company's stock worth $44,000 after acquiring an additional 305 shares in the last quarter. KBC Group NV increased its position in shares of International Seaways by 65.2% during the third 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, Quarry LP raised its stake in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company's stock valued at $86,000 after acquiring an additional 1,167 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Stock Down 0.5 %

Shares of INSW traded down $0.19 during mid-day trading on Thursday, reaching $35.94. The company's stock had a trading volume of 628,415 shares, compared to its average volume of 585,877. The company's 50 day moving average is $44.16 and its 200 day moving average is $51.12. The stock has a market cap of $1.77 billion, a PE ratio of 3.49 and a beta of -0.10. International Seaways, Inc. has a 12-month low of $35.34 and a 12-month 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 released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share 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 company had revenue of $225.20 million for the quarter, compared to analysts' expectations of $208.75 million. During the same quarter last year, the company earned $1.99 earnings per share. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 14.69%. The ex-dividend date is Friday, December 13th. This is an increase from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio is currently 4.64%.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $50.30, for a total transaction of $100,600.00. Following the transaction, the chief executive officer now directly owns 155,475 shares of the company's stock, valued at approximately $7,820,392.50. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Derek G. Solon sold 1,200 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total transaction 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 $1,777,681.17. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,200 shares of company stock valued at $463,222. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INSW shares. Jefferies Financial Group lowered their target price on International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus lowered shares of International Seaways from a "buy" rating to a "hold" rating and cut their target price for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of International Seaways to a "strong-buy" rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.