Healthcare of Ontario Pension Plan Trust Fund Sells 71,500 Shares of International Seaways, Inc. (NYSE:INSW)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 48.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 77,000 shares of the transportation company's stock after selling 71,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.16% of International Seaways worth $3,970,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cynosure Group LLC boosted its holdings in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock valued at $370,000 after purchasing an additional 447 shares during the period. FMR LLC grew its position in International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after buying an additional 414,610 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in International Seaways in the 3rd quarter worth about $2,161,000. Charles Schwab Investment Management Inc. raised its holdings in shares of International Seaways by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock valued at $22,205,000 after acquiring an additional 32,825 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of International Seaways during the 3rd quarter valued at about $620,000. Institutional investors own 67.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INSW. Jefferies Financial Group decreased their price objective 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. Stifel Nicolaus downgraded shares of International Seaways from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Finally, StockNews.com lowered International Seaways from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Two investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

International Seaways Trading Up 0.2 %

INSW stock traded up $0.10 during trading on Tuesday, hitting $41.98. 371,140 shares of the company traded hands, compared to its average volume of 578,859. The company has a 50-day moving average of $47.93 and a 200-day moving average of $53.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 1 year low of $41.22 and a 1 year high of $65.94. The firm has a market capitalization of $2.06 billion, a PE ratio of 4.06 and a beta of -0.06.

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, beating 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 firm had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The business's quarterly revenue was down 6.8% compared to the same quarter last year. Analysts predict that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 12.58%. This is an increase 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 is 4.64%.

Insider Transactions at International Seaways

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the business'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 transaction, the director now owns 16,109 shares in the company, valued at $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the sale, the chief executive officer now owns 151,475 shares of the company's stock, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,000 shares of company stock worth $723,780. Company insiders own 1.90% of the company's stock.

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.