SG Americas Securities LLC Takes $1.10 Million Position in International Seaways Inc. $INSW

SG Americas Securities LLC acquired a new stake in International Seaways Inc. (NYSE:INSW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 30,039 shares of the transportation company’s stock, valued at approximately $1,096,000. SG Americas Securities LLC owned approximately 0.06% of International Seaways as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of INSW. Blue Trust Inc. increased its position in shares of International Seaways by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after purchasing an additional 289 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in International Seaways by 3.1% in the second quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company’s stock valued at $517,000 after acquiring an additional 426 shares during the last quarter. Rossby Financial LCC boosted its stake in shares of International Seaways by 3.6% in the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company’s stock valued at $561,000 after purchasing an additional 530 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in International Seaways by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company’s stock worth $330,000 after purchasing an additional 585 shares in the last quarter. Finally, Lesa Sroufe & Co grew its stake in shares of International Seaways by 1.1% in the second quarter. Lesa Sroufe & Co now owns 58,161 shares of the transportation company’s stock worth $2,122,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Up 2.9%

Shares of INSW opened at $54.53 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 11.34 and a beta of -0.02. The firm’s 50-day moving average price is $48.74 and its 200-day moving average price is $43.32. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $55.18.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The business had revenue of $84.82 million during the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. Sell-side analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 9th. International Seaways’s payout ratio is 10.93%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INSW. BTIG Research reduced their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Pareto Securities cut International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.67.

Insider Buying and Selling at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.12, for a total transaction of $88,240.00. Following the completion of the sale, the chief executive officer directly owned 186,771 shares in the company, valued at approximately $8,240,336.52. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO James D. Small III sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the transaction, the chief accounting officer directly owned 49,292 shares in the company, valued at $2,642,051.20. This trade represents a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,500 shares of company stock worth $1,699,875 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.