International Seaways, Inc. (NYSE:INSW) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P grew its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,805 shares of the transportation company’s stock after purchasing an additional 1,725 shares during the period. Martingale Asset Management L P owned approximately 0.13% of International Seaways worth $3,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after purchasing an additional 252,492 shares during the period. Renaissance Technologies LLC increased its position in International Seaways by 5.3% during the 2nd quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after purchasing an additional 44,200 shares during the period. Victory Capital Management Inc. boosted its stake in shares of International Seaways by 4.1% during the 2nd quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock worth $50,482,000 after acquiring an additional 33,712 shares in the last quarter. FMR LLC boosted its stake in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after acquiring an additional 32,825 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on INSW. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group decreased their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Price Performance

INSW stock opened at $39.01 on Friday. International Seaways, Inc. has a 1 year low of $38.67 and a 1 year high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock’s 50 day moving average price is $46.39 and its 200 day moving average price is $52.66. The firm has a market cap of $1.92 billion, a P/E ratio of 3.77 and a beta of -0.06.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (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 analyst estimates of $208.75 million. During the same quarter in the prior year, the company earned $1.99 EPS. International Seaways’s revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 13.53%. International Seaways’s payout ratio is 4.64%.

Insider Buying and Selling at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was 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 directly owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the completion of the transaction, the chief executive officer now owns 155,475 shares of the company’s stock, valued at $7,820,392.50. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,200 shares of company stock worth $719,282. Insiders own 1.90% 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.