SG Americas Securities LLC Buys New Holdings in International Seaways, Inc. (NYSE:INSW)

SG Americas Securities LLC acquired a new stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,439 shares of the transportation company's stock, valued at approximately $735,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. acquired a new position in shares of International Seaways during the third quarter valued at $41,000. Sunbelt Securities Inc. bought a new stake in shares of International Seaways in the third quarter worth about $52,000. KBC Group NV lifted its stake in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after buying an additional 428 shares in the last quarter. Quarry LP raised its stake in shares of 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 period. Finally, CWM LLC boosted its position in International Seaways by 106.5% during the 3rd quarter. CWM LLC now owns 3,035 shares of the transportation company's stock worth $156,000 after acquiring an additional 1,565 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,200 shares of company stock valued at $204,962 over the last quarter. 1.90% of the stock is owned by corporate insiders.

International Seaways Stock Performance

Shares of NYSE INSW traded up $1.39 during mid-day trading on Thursday, reaching $38.87. 896,204 shares of the company were exchanged, compared to its average volume of 1,026,299. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94. The stock has a market capitalization of $1.91 billion, a P/E ratio of 3.76 and a beta of -0.10. The company's 50-day simple moving average is $37.29 and its 200-day simple moving average is $45.42. 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 announced its 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. The company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 earnings per share. As a group, research analysts predict that International Seaways, Inc. will post 8.14 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.58%. This is a boost from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio (DPR) is presently 4.64%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INSW shares. Jefferies Financial Group decreased their price target on International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus cut shares of International Seaways from a "buy" rating to a "hold" rating and cut their price target for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Seaways presently has an average rating of "Moderate Buy" and an average 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.