International Seaways, Inc. (NYSE:INSW) Stock Position Cut by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. reduced its holdings in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 203,697 shares of the transportation company's stock after selling 27,229 shares during the quarter. Donald Smith & CO. Inc. owned 0.41% of International Seaways worth $10,503,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INSW. EverSource Wealth Advisors LLC acquired a new stake in International Seaways in the first quarter worth $27,000. EdgeRock Capital LLC bought a new position in shares of International Seaways in the second quarter valued at approximately $28,000. Blue Trust Inc. bought a new stake in shares of International Seaways during the 3rd quarter worth $41,000. Headlands Technologies LLC raised its position in International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company's stock worth $48,000 after acquiring an additional 574 shares during the period. Finally, Quarry LP grew its holdings in International Seaways by 408.0% during the second 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 period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Price Performance

NYSE INSW traded down $0.65 during trading on Wednesday, hitting $43.34. 781,530 shares of the stock traded hands, compared to its average volume of 575,761. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.14 billion, a P/E ratio of 4.07 and a beta of -0.08. International Seaways, Inc. has a 12-month low of $42.08 and a 12-month high of $65.94. The firm has a 50-day simple moving average of $50.16 and a 200-day simple moving average of $54.83.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $257.40 million for the quarter, compared to analysts' expectations of $256.13 million. During the same period in the prior year, the firm posted $3.12 earnings per share. International Seaways's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts predict that International Seaways, Inc. will post 9.31 EPS for the current year.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. International Seaways's payout ratio is 4.49%.

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of recent analyst reports. Fearnley Fonds raised shares of International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com downgraded International Seaways from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus lowered International Seaways from a "buy" rating to a "hold" rating and decreased their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.67.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total value of $98,800.00. Following the sale, the chief executive officer now directly owns 157,475 shares of the company's stock, valued at approximately $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the sale, the chief financial officer now owns 38,849 shares of the company's stock, valued at $2,174,378.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares in the company, valued at $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $751,840 in the last three months. 1.90% of the stock is 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.