International Seaways, Inc. (NYSE:INSW) Shares Purchased by Cynosure Group LLC

Cynosure Group LLC boosted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 6.6% in the third quarter, Holdings Channel reports. The fund owned 7,171 shares of the transportation company’s stock after purchasing an additional 447 shares during the period. Cynosure Group LLC’s holdings in International Seaways were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of INSW. EverSource Wealth Advisors LLC purchased a new position in International Seaways during the first quarter worth about $27,000. EdgeRock Capital LLC purchased a new position in shares of International Seaways during the 2nd quarter worth approximately $28,000. Blue Trust Inc. acquired a new stake in shares of International Seaways in the 3rd quarter valued at approximately $41,000. KBC Group NV lifted its holdings 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 buying an additional 428 shares during the period. Finally, Quarry LP boosted its stake in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on INSW. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group lowered their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Price Performance

International Seaways stock opened at $39.62 on Friday. The firm has a market capitalization of $1.95 billion, a PE ratio of 3.83 and a beta of -0.06. International Seaways, Inc. has a 52 week low of $38.67 and a 52 week high of $65.94. The firm’s 50-day simple moving average is $46.85 and its 200 day simple moving average is $52.91. 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 (NYSE:INSW) last announced its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $1.32 per share. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.33%. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Insider Transactions at International Seaways

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the sale, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares of the company’s stock, valued at $6,336,199.25. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $672,590 over the last three months. 1.90% of the stock is currently 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.