Kingsview Wealth Management LLC Invests $2.16 Million in International Seaways, Inc. (NYSE:INSW)

Kingsview Wealth Management LLC bought a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 41,911 shares of the transportation company's stock, valued at approximately $2,161,000. Kingsview Wealth Management LLC owned about 0.08% of International Seaways as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC raised its stake in International Seaways by 102.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company's stock worth $1,247,000 after purchasing an additional 10,652 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of International Seaways by 227.5% in the 2nd quarter. QRG Capital Management Inc. now owns 26,253 shares of the transportation company's stock valued at $1,552,000 after buying an additional 18,237 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of International Seaways by 88.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 71,206 shares of the transportation company's stock valued at $3,671,000 after buying an additional 33,392 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of International Seaways by 21.3% in the 1st quarter. Lazard Asset Management LLC now owns 63,621 shares of the transportation company's stock valued at $3,384,000 after buying an additional 11,192 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new position in shares of International Seaways in the 3rd quarter valued at approximately $661,000. Institutional investors and hedge funds own 67.29% of the company's stock.

Insider Transactions at International Seaways

In other news, SVP Derek G. Solon sold 1,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.75, for a total transaction of $49,750.00. Following the completion of the transaction, the senior vice president now directly owns 46,887 shares in the company, valued at $2,332,628.25. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the 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 sale, the director now directly owns 16,109 shares in the company, valued at $792,079.53. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock worth $723,780 in the last quarter. Insiders own 1.90% of the company's stock.

International Seaways Trading Down 2.0 %

INSW traded down $0.83 during trading on Tuesday, reaching $39.97. 351,037 shares of the company's stock were exchanged, compared to its average volume of 577,522. International Seaways, Inc. has a one year low of $39.88 and a one year high of $65.94. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.97 billion, a PE ratio of 3.94 and a beta of -0.06. The firm has a fifty day moving average price of $47.30 and a two-hundred day moving average price of $53.15.

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, topping the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the prior year, the company posted $1.99 earnings per share. The business's revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts forecast that International Seaways, Inc. will post 7.92 earnings per share 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 given a dividend of $1.32 per share. This is an increase from International Seaways's previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.21%. The ex-dividend date is Friday, December 13th. International Seaways's dividend payout ratio is currently 4.64%.

Analysts Set New Price Targets

INSW has been the subject of several analyst reports. Stifel Nicolaus cut shares of International Seaways from a "buy" rating to a "hold" rating and dropped their target price for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. StockNews.com lowered shares of International Seaways from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Fearnley Fonds raised shares of International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Finally, Jefferies Financial Group decreased their price target on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

International Seaways Company 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.