Hotchkis & Wiley Capital Management LLC Makes New $6.17 Million Investment in International Seaways, Inc. (NYSE:INSW)

Hotchkis & Wiley Capital Management LLC purchased a new position in International Seaways, Inc. (NYSE:INSW - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 119,630 shares of the transportation company's stock, valued at approximately $6,168,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.24% of International Seaways as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of International Seaways in the 1st quarter worth $27,000. EdgeRock Capital LLC purchased a new position in shares of International Seaways during the 2nd quarter valued at approximately $28,000. Blue Trust Inc. acquired a new stake in shares of International Seaways during the 3rd quarter valued at about $41,000. KBC Group NV raised its position in 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 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 purchasing an additional 1,167 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 1,000 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.75, for a total value of $49,750.00. Following the completion of the sale, the senior vice president now owns 46,887 shares of the company's stock, valued at $2,332,628.25. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now directly owns 16,109 shares of the company's stock, 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 quarter, insiders have sold 16,200 shares of company stock worth $758,822. Company insiders own 1.90% of the company's stock.

International Seaways Stock Performance

INSW stock traded down $0.54 on Friday, reaching $37.01. The company's stock had a trading volume of 1,005,480 shares, compared to its average volume of 585,816. The firm has a fifty day moving average of $45.36 and a two-hundred day moving average of $51.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company has a market capitalization of $1.82 billion, a P/E ratio of 3.63 and a beta of -0.10. International Seaways, Inc. has a 52 week low of $36.65 and a 52 week high of $65.94.

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, 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 during the quarter, compared to analyst estimates of $208.75 million. During the same period in the prior year, the business posted $1.99 EPS. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 14.27%. This is an increase from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. International Seaways's dividend payout ratio is currently 4.64%.

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus lowered International Seaways from a "buy" rating to a "hold" rating and lowered their price objective for the company 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 research report on Friday, September 27th. Finally, StockNews.com cut shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.