46,796 Shares in International Seaways, Inc. (NYSE:INSW) Purchased by Glenorchy Capital Ltd

Glenorchy Capital Ltd bought a new stake in shares of International Seaways, Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,796 shares of the transportation company’s stock, valued at approximately $2,128,000. International Seaways accounts for 0.8% of Glenorchy Capital Ltd’s holdings, making the stock its 18th largest holding.

Other large investors have also modified their holdings of the company. U S Global Investors Inc. bought a new stake in shares of International Seaways during the third quarter valued at approximately $78,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of International Seaways during the third quarter valued at $113,000. Peterson Wealth Services purchased a new stake in shares of International Seaways during the fourth quarter valued at $203,000. Baker Ellis Asset Management LLC purchased a new stake in International Seaways in the third quarter valued at $220,000. Finally, SG Americas Securities LLC acquired a new position in shares of International Seaways during the 3rd quarter worth about $224,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

INSW stock traded up $0.37 during trading on Tuesday, reaching $53.97. 484,756 shares of the company were exchanged, compared to its average volume of 532,160. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. The company has a market cap of $2.64 billion, a P/E ratio of 4.80 and a beta of -0.05. The stock’s 50 day moving average price is $52.66 and its 200 day moving average price is $49.54. International Seaways, Inc. has a 52-week low of $34.77 and a 52-week high of $55.59.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. As a group, analysts predict that International Seaways, Inc. will post 9.42 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 8.89%. International Seaways’s dividend payout ratio (DPR) is 4.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th. Stifel Nicolaus raised their price target on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th.

Insider Buying and Selling at International Seaways

In related news, Director Alexandra Kate Blankenship sold 6,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the sale, the director now owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at $4,117,521.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the sale, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock worth $3,073,978 in the last ninety days. 2.00% 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.