Moors & Cabot Inc. Sells 11,936 Shares of International Seaways Inc. $INSW

Moors & Cabot Inc. cut its holdings in International Seaways Inc. (NYSE:INSW) by 64.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,514 shares of the transportation company’s stock after selling 11,936 shares during the period. Moors & Cabot Inc.’s holdings in International Seaways were worth $238,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new position in International Seaways during the 1st quarter valued at $55,000. PNC Financial Services Group Inc. raised its stake in shares of International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 1,542 shares in the last quarter. Blue Trust Inc. raised its stake in shares of International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in International Seaways by 35.3% in the first quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the transportation company’s stock worth $102,000 after purchasing an additional 801 shares during the period. Finally, GAMMA Investing LLC boosted its stake in International Seaways by 193.4% during the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock worth $124,000 after buying an additional 2,249 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In other news, CAO James D. Small III sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $41.35, for a total transaction of $206,750.00. Following the sale, the chief accounting officer directly owned 69,292 shares of the company’s stock, valued at $2,865,224.20. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $49.08, for a total value of $98,160.00. Following the transaction, the chief executive officer directly owned 188,771 shares in the company, valued at approximately $9,264,880.68. This represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,000 shares of company stock valued at $737,320 over the last ninety days. Company insiders own 2.00% of the company’s stock.

International Seaways Price Performance

Shares of International Seaways stock opened at $53.24 on Monday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 11.07 and a beta of -0.02. The firm’s 50-day moving average price is $47.29 and its two-hundred day moving average price is $42.04. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $53.90.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The business had revenue of $84.82 million for the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. On average, equities analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. International Seaways’s payout ratio is currently 10.93%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INSW shares. BTIG Research reduced their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

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.