International Seaways, Inc. (NYSE:INSW) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 943,375 shares of the transportation company's stock after acquiring an additional 38,871 shares during the period. Geode Capital Management LLC owned about 1.92% of International Seaways worth $48,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bailard Inc. lifted its holdings in International Seaways by 2.4% in the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company's stock valued at $752,000 after acquiring an additional 300 shares during the period. EverSource Wealth Advisors LLC increased its holdings in International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company's stock valued at $44,000 after buying an additional 305 shares in the last quarter. Consolidated Portfolio Review Corp lifted its position in shares of International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company's stock valued at $492,000 after acquiring an additional 312 shares during the period. KBC Group NV boosted its stake in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after acquiring an additional 428 shares in the last quarter. Finally, Cynosure Group LLC grew its holdings in shares of International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock worth $370,000 after acquiring an additional 447 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Trading Up 9.3 %

NYSE:INSW traded up $3.14 on Tuesday, reaching $36.92. The stock had a trading volume of 2,092,469 shares, compared to its average volume of 597,433. The firm's fifty day moving average is $40.91 and its two-hundred day moving average is $49.17. 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 cap of $1.82 billion, a price-to-earnings ratio of 3.57 and a beta of -0.10. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month 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, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the firm posted $1.99 EPS. International Seaways's revenue was down 6.8% on a year-over-year basis. Equities analysts expect that International Seaways, Inc. will post 7.92 EPS 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. Shareholders of record on Friday, December 13th will be issued a $1.32 dividend. This is a boost from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 14.30%. International Seaways's payout ratio is 4.64%.

Analysts Set New Price Targets

INSW has been the topic of a number of research analyst reports. Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their target price on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Finally, Stifel Nicolaus downgraded shares of International Seaways from a "buy" rating to a "hold" rating and reduced their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.67.

Insider Activity

In other news, SVP Derek G. Solon sold 1,200 shares of International Seaways stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.24, for a total transaction of $51,240.00. Following the sale, the senior vice president now directly owns 52,803 shares of the company's stock, valued at approximately $2,705,625.72. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,200 shares of company stock valued at $362,622 in the last 90 days. 1.90% of the stock is currently owned by 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.