OMERS ADMINISTRATION Corp Boosts Stake in International Seaways, Inc. (NYSE:INSW)

OMERS ADMINISTRATION Corp grew its stake in International Seaways, Inc. (NYSE:INSW) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,300 shares of the transportation company’s stock after buying an additional 3,700 shares during the period. OMERS ADMINISTRATION Corp owned 0.09% of International Seaways worth $1,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA purchased a new position in shares of International Seaways in the fourth quarter worth $29,000. Larson Financial Group LLC purchased a new position in shares of International Seaways in the fourth quarter worth $37,000. Quarry LP raised its holdings in shares of International Seaways by 169.0% in the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after buying an additional 852 shares during the last quarter. R Squared Ltd purchased a new position in shares of International Seaways in the fourth quarter worth $59,000. Finally, KBC Group NV increased its stake in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after acquiring an additional 653 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total value of $63,320.00. Following the sale, the chief executive officer now owns 198,771 shares in the company, valued at $6,293,089.86. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the sale, the senior vice president now owns 55,852 shares in the company, valued at approximately $1,892,824.28. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,900 shares of company stock worth $437,416. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th.

International Seaways Stock Down 0.2%

NYSE:INSW opened at $38.33 on Friday. The firm has a market capitalization of $1.89 billion, a P/E ratio of 3.70 and a beta of -0.01. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The company’s fifty day moving average price is $33.73 and its 200-day moving average price is $36.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the business earned $2.92 earnings per share. As a group, equities research analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.25%. International Seaways’s dividend payout ratio is presently 7.42%.

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.