International Seaways, Inc. (NYSE:INSW) Shares Acquired by Fmr LLC

FMR LLC boosted its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 221.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 602,213 shares of the transportation company's stock after buying an additional 414,610 shares during the quarter. FMR LLC owned approximately 1.22% of International Seaways worth $31,050,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in International Seaways in the 2nd quarter valued at approximately $28,000. Blue Trust Inc. acquired a new position in International Seaways in the 3rd quarter valued at $41,000. EverSource Wealth Advisors LLC raised its holdings in International Seaways by 62.8% in 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 during the last quarter. KBC Group NV raised its holdings in International Seaways by 65.2% in the 3rd 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 raised its holdings in International Seaways by 408.0% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Trading Up 1.1 %

Shares of INSW stock traded up $0.41 on Monday, reaching $37.47. 556,382 shares of the stock were exchanged, compared to its average volume of 585,692. The stock has a market cap of $1.84 billion, a P/E ratio of 3.58 and a beta of -0.10. 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 50 day moving average of $45.06 and a two-hundred day moving average of $51.61. International Seaways, Inc. has a 1-year low of $36.65 and a 1-year high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping 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 business had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the prior year, the firm posted $1.99 EPS. The business's revenue for the quarter was down 6.8% on a year-over-year basis. On average, research analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.32 dividend. This is an increase from International Seaways's previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 14.09%. The ex-dividend date of this dividend is Friday, December 13th. International Seaways's dividend payout ratio is currently 4.64%.

Insider Activity at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,000 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total value of $49,750.00. Following the completion of the transaction, the senior vice president now directly owns 46,887 shares of the company's stock, valued at $2,332,628.25. This represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the transaction, the director now directly owns 16,109 shares in the company, valued at $792,079.53. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,200 shares of company stock worth $758,822. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

INSW has been the subject of several analyst reports. Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a "buy" rating to a "hold" rating and cut their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.