International Seaways, Inc. (NYSE:INSW) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its stake in International Seaways, Inc. (NYSE:INSW) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 422,564 shares of the transportation company’s stock after selling 5,969 shares during the quarter. Loomis Sayles & Co. L P’s holdings in International Seaways were worth $21,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. EdgeRock Capital LLC purchased a new position in International Seaways during the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC acquired a new stake in International Seaways in the first quarter valued at about $27,000. Blue Trust Inc. purchased a new stake in International Seaways in the 3rd quarter valued at approximately $41,000. KBC Group NV increased its position in 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 purchasing an additional 428 shares during the period. Finally, Quarry LP raised its stake in shares of International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after buying an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

NYSE:INSW opened at $39.54 on Wednesday. International Seaways, Inc. has a twelve month low of $39.46 and a twelve month high of $65.94. The company has a market capitalization of $1.95 billion, a P/E ratio of 3.82 and a beta of -0.06. 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 firm has a 50-day moving average price of $47.30 and a two-hundred day moving average price of $53.15.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $208.75 million. During the same quarter in the prior year, the firm earned $1.99 EPS. International Seaways’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, research analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 13.35%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Wall Street Analysts Forecast Growth

INSW has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Two 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 a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Friday, November 15th. The shares were 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 of the company’s stock, valued at approximately $6,336,199.25. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares of the company’s stock, 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. In the last quarter, insiders sold 15,000 shares of company stock valued at $723,780. 1.90% of the stock is owned by insiders.

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.