Significant Wealth Partners LLC Makes New $414,000 Investment in International Seaways, Inc. (NYSE:INSW)

Significant Wealth Partners LLC bought a new position in International Seaways, Inc. (NYSE:INSW) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,105 shares of the transportation company’s stock, valued at approximately $414,000.

A number of other institutional investors have also added to or reduced their stakes in INSW. U S Global Investors Inc. bought a new position in International Seaways in the 3rd quarter worth about $78,000. Counterpoint Mutual Funds LLC bought a new position in International Seaways in the 3rd quarter worth about $113,000. Peterson Wealth Services bought a new position in shares of International Seaways during the 4th quarter valued at about $203,000. Baker Ellis Asset Management LLC bought a new position in shares of International Seaways during the 3rd quarter valued at about $220,000. Finally, SG Americas Securities LLC bought a new position in shares of International Seaways during the 3rd quarter valued at about $224,000. 67.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on INSW shares. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus increased their price objective on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday.

Insider Activity at International Seaways

In related news, Director Alexandra Kate Blankenship sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the completion of the transaction, the director now owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction on Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the director now directly owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

International Seaways Price Performance

INSW opened at $53.60 on Tuesday. International Seaways, Inc. has a 1 year low of $34.77 and a 1 year high of $55.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 4.76 and a beta of -0.05. The stock’s 50 day simple moving average is $52.64 and its 200 day simple moving average is $49.46.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. As a group, analysts predict that International Seaways, Inc. will post 9.42 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

International Seaways Company 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.