Knights of Columbus Asset Advisors LLC Cuts Stake in International Seaways Inc. $INSW

Knights of Columbus Asset Advisors LLC reduced its position in International Seaways Inc. (NYSE:INSW) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 47,515 shares of the transportation company’s stock after selling 665 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in International Seaways were worth $1,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock worth $39,000 after purchasing an additional 596 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock valued at $53,000 after buying an additional 738 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of International Seaways during the first quarter valued at $55,000. PNC Financial Services Group Inc. grew its holdings in shares of International Seaways by 550.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,542 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company’s stock valued at $93,000 after buying an additional 1,063 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INSW has been the topic of a number of research analyst reports. BTIG Research dropped their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.50.

Insider Buying and Selling

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $48.27, for a total value of $48,270.00. Following the sale, the chief financial officer directly owned 63,502 shares of the company’s stock, valued at approximately $3,065,241.54. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $40.21, for a total transaction of $40,210.00. Following the completion of the sale, the senior vice president directly owned 58,752 shares in the company, valued at approximately $2,362,417.92. The trade was a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $799,770 in the last 90 days. 2.00% of the stock is currently owned by insiders.

International Seaways Price Performance

NYSE:INSW opened at $46.00 on Tuesday. International Seaways Inc. has a one year low of $27.20 and a one year high of $54.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 9.56 and a beta of 0.01. The firm’s fifty day moving average is $44.99 and its two-hundred day moving average is $39.39.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, August 6th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The company had revenue of $188.82 million for the quarter, compared to analyst estimates of $199.06 million. During the same period in the prior year, the company earned $2.37 earnings per share. The firm’s revenue was down 24.0% on a year-over-year basis. Research analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 10th. International Seaways’s dividend payout ratio is presently 9.98%.

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.