Empowered Funds LLC Reduces Stock Position in International Seaways, Inc. (NYSE:INSW)

Empowered Funds LLC lessened its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 69.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,836 shares of the transportation company's stock after selling 106,601 shares during the period. Empowered Funds LLC owned approximately 0.10% of International Seaways worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC increased its holdings in shares of International Seaways by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company's stock worth $389,000 after buying an additional 574 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of International Seaways by 269.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company's stock worth $2,279,000 after buying an additional 31,231 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company's stock valued at $212,074,000 after purchasing an additional 286,295 shares in the last quarter. MQS Management LLC purchased a new stake in shares of International Seaways in the 1st quarter valued at $200,000. Finally, Shell Asset Management Co. boosted its stake in shares of International Seaways by 20.3% in the 1st quarter. Shell Asset Management Co. now owns 7,399 shares of the transportation company's stock valued at $394,000 after purchasing an additional 1,247 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of research reports. Fearnley Fonds raised shares of International Seaways to a "strong-buy" rating in a research note on Friday, September 27th. StockNews.com cut shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Jefferies Financial Group dropped 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 report on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of International Seaways from a "buy" rating to a "hold" rating and dropped their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

International Seaways Trading Down 0.4 %

Shares of NYSE:INSW traded down $0.17 on Wednesday, hitting $41.82. The company had a trading volume of 154,477 shares, compared to its average volume of 576,974. The firm's 50-day simple moving average is $47.93 and its two-hundred day simple moving average is $53.65. International Seaways, Inc. has a 1 year low of $41.22 and a 1 year high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 4.06 and a beta of -0.06.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping 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 firm had revenue of $225.20 million during the quarter, compared to analysts' expectations of $208.75 million. During the same period last year, the company posted $1.99 EPS. The company's quarterly revenue was down 6.8% compared to the same quarter last year. Equities analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared 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. This represents a $5.28 annualized dividend and a dividend yield of 12.63%. This is a positive change from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. International Seaways's dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares in the company, valued at approximately $792,079.53. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the sale, the senior vice president now owns 53,803 shares of the company's stock, valued at approximately $2,754,175.57. This represents 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 worth $723,780 in the last three months. 1.90% of the stock is owned by corporate insiders.

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.