DMC Group LLC Raises Stock Position in International Seaways, Inc. (NYSE:INSW)

DMC Group LLC lifted its stake in International Seaways, Inc. (NYSE:INSW) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,974 shares of the transportation company’s stock after buying an additional 540 shares during the period. DMC Group LLC’s holdings in International Seaways were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in shares of International Seaways during the third quarter worth about $41,000. Sunbelt Securities Inc. acquired a new position in International Seaways during the third quarter worth approximately $52,000. KBC Group NV lifted its stake in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the last quarter. R Squared Ltd acquired a new stake in shares of International Seaways in the fourth quarter valued at approximately $59,000. Finally, Quarry LP grew its position in shares of International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of recent research reports. Jefferies Financial Group decreased their price target 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 cut International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.67.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s 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 directly owns 151,475 shares of the company’s stock, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Derek G. Solon sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the sale, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,200 shares of company stock worth $204,962. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Up 3.1 %

Shares of NYSE:INSW opened at $37.46 on Thursday. International Seaways, Inc. has a fifty-two week low of $32.11 and a fifty-two week high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $37.29 and its 200-day simple moving average is $45.42. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 3.62 and a beta of -0.10.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 EPS. As a group, equities research analysts predict that International Seaways, Inc. will post 8.14 earnings per share for the current year.

International Seaways Increases Dividend

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

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.