International Seaways, Inc. (NYSE:INSW) Shares Acquired by DMC Group LLC

DMC Group LLC increased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,974 shares of the transportation company’s stock after buying an additional 540 shares during the quarter. DMC Group LLC’s holdings in International Seaways were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INSW. Blue Trust Inc. purchased a new position in shares of International Seaways in the 3rd quarter worth $41,000. Sunbelt Securities Inc. purchased a new position in shares of International Seaways in the 3rd quarter worth about $52,000. KBC Group NV lifted its stake in shares of International Seaways by 65.2% in the 3rd 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. R Squared Ltd purchased a new stake in shares of International Seaways during the 4th quarter worth about $59,000. Finally, Quarry LP increased its position in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INSW. Jefferies Financial Group decreased their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Trading Up 3.1 %

INSW opened at $37.46 on Thursday. The firm has a market capitalization of $1.84 billion, a P/E ratio of 3.62 and a beta of -0.10. The firm’s 50 day moving average is $37.29 and its 200-day moving average is $45.42. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52-week low of $32.11 and a 52-week high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The firm had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 EPS. Analysts expect that International Seaways, Inc. will post 8.14 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 14.10%. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 1,200 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 45,687 shares in the company, valued at $1,777,681.17. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the transaction, the chief executive officer now owns 151,475 shares of the company’s stock, valued at approximately $6,336,199.25. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock worth $204,962 in the last three months. 1.90% of the stock is owned by insiders.

International Seaways 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.