Blue Trust Inc. Increases Position in International Seaways Inc. $INSW

Blue Trust Inc. grew its stake in International Seaways Inc. (NYSE:INSW) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,872 shares of the transportation company’s stock after acquiring an additional 289 shares during the quarter. Blue Trust Inc.’s holdings in International Seaways were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INSW. GAMMA Investing LLC increased its holdings in shares of International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 596 shares during the period. QRG Capital Management Inc. increased its holdings in shares of International Seaways by 63.8% in the 1st quarter. QRG Capital Management Inc. now owns 37,510 shares of the transportation company’s stock valued at $1,245,000 after acquiring an additional 14,604 shares during the period. Illinois Municipal Retirement Fund purchased a new position in shares of International Seaways in the 1st quarter valued at $671,000. U S Global Investors Inc. purchased a new position in shares of International Seaways in the 1st quarter valued at $132,000. Finally, KBC Group NV increased its holdings in shares of International Seaways by 61.2% in the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company’s stock valued at $93,000 after acquiring an additional 1,063 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INSW shares. BTIG Research cut their price target on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.50.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $49.08, for a total transaction of $98,160.00. Following the completion of the transaction, the chief executive officer owned 188,771 shares in the company, valued at approximately $9,264,880.68. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO James D. Small III sold 5,000 shares of International Seaways stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $41.35, for a total value of $206,750.00. Following the transaction, the chief accounting officer owned 69,292 shares of the company’s stock, valued at $2,865,224.20. The trade was a 6.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,000 shares of company stock worth $777,530. Insiders own 2.00% of the company’s stock.

International Seaways Stock Performance

Shares of INSW opened at $46.17 on Friday. The stock has a 50-day moving average of $45.43 and a two-hundred day moving average of $39.98. International Seaways Inc. has a one year low of $27.20 and a one year high of $50.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $2.28 billion, a P/E ratio of 9.60 and a beta of 0.01.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The firm had revenue of $84.82 million for the quarter. As a group, research analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.0%. International Seaways’s dividend payout ratio (DPR) is presently 9.98%.

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.