International Seaways, Inc. (NYSE:INSW) Stake Boosted by Barclays PLC

Barclays PLC raised its position in shares of International Seaways, Inc. (NYSE:INSW) by 206.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,393 shares of the transportation company’s stock after buying an additional 174,695 shares during the quarter. Barclays PLC’s holdings in International Seaways were worth $13,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of International Seaways in the 2nd quarter valued at approximately $28,000. Blue Trust Inc. acquired a new stake in International Seaways during the 3rd quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its holdings in shares of International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 305 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 428 shares in the last quarter. Finally, Quarry LP boosted its position in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after buying 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

INSW opened at $34.97 on Monday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 3.38 and a beta of -0.10. International Seaways, Inc. has a 1 year low of $34.32 and a 1 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 fifty day moving average price of $43.42 and a 200 day moving average price of $50.62.

International Seaways (NYSE:INSW) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business earned $1.99 EPS. Analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.32 dividend. 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. This represents a $5.28 dividend on an annualized basis and a yield of 15.10%. International Seaways’s payout ratio is 4.64%.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, November 29th. The shares were sold at an average price of $39.54, for a total value of $39,540.00. Following the completion of the sale, the senior vice president now owns 50,803 shares of the company’s stock, valued at approximately $2,008,750.62. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Derek G. Solon sold 1,200 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the transaction, the senior vice president now directly owns 45,687 shares in the company, valued at $1,777,681.17. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,200 shares of company stock worth $362,622 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded 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 for the company 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.