Janus Henderson Group PLC Increases Stake in International Seaways, Inc. (NYSE:INSW)

Janus Henderson Group PLC boosted its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 51.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,107 shares of the transportation company's stock after purchasing an additional 20,372 shares during the quarter. Janus Henderson Group PLC owned about 0.12% of International Seaways worth $3,098,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company's stock valued at $73,034,000 after acquiring an additional 252,492 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of International Seaways by 5.3% during the 2nd quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company's stock worth $52,184,000 after purchasing an additional 44,200 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of International Seaways by 4.1% in the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company's stock valued at $50,482,000 after purchasing an additional 33,712 shares in the last quarter. FMR LLC increased its holdings in shares of International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company's stock valued at $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock worth $22,205,000 after buying an additional 32,825 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares in the company, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.30, for a total transaction of $100,600.00. Following the sale, the chief executive officer now owns 155,475 shares in the company, valued at approximately $7,820,392.50. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,200 shares of company stock worth $463,222. 1.90% of the stock is currently owned by insiders.

International Seaways Trading Down 0.5 %

NYSE:INSW traded down $0.19 on Thursday, reaching $35.94. The company's stock had a trading volume of 628,415 shares, compared to its average volume of 585,877. International Seaways, Inc. has a 12-month low of $35.34 and a 12-month high of $65.94. The stock has a 50 day moving average price of $43.79 and a 200 day moving average price of $51.01. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 3.47 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.

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

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.69%. 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 payout ratio is 4.64%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INSW. Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Stifel Nicolaus cut shares of International Seaways from a "buy" rating to a "hold" rating and lowered their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their price objective 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. 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 company. According to MarketBeat, International Seaways currently has an average rating of "Moderate Buy" and an average price target of $60.67.

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.