Lesa Sroufe & Co Trims Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Lesa Sroufe & Co cut its holdings in International Seaways, Inc. (NYSE:INSW) by 0.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 64,801 shares of the transportation company’s stock after selling 203 shares during the period. International Seaways makes up about 3.2% of Lesa Sroufe & Co’s portfolio, making the stock its 6th biggest holding. Lesa Sroufe & Co’s holdings in International Seaways were worth $3,447,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Capstone Investment Advisors LLC bought a new position in International Seaways during the 1st quarter valued at about $449,000. BNP Paribas Financial Markets grew its holdings in International Seaways by 101.5% during the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock valued at $1,838,000 after purchasing an additional 17,399 shares during the last quarter. Peterson Wealth Services grew its holdings in International Seaways by 188.8% during the 1st quarter. Peterson Wealth Services now owns 12,859 shares of the transportation company’s stock valued at $684,000 after purchasing an additional 8,406 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in International Seaways by 28.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,485 shares of the transportation company’s stock valued at $1,303,000 after purchasing an additional 5,469 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in International Seaways by 261.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,179 shares of the transportation company’s stock valued at $914,000 after purchasing an additional 12,429 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Insider Transactions at International Seaways

In other news, VP Adewale Oshodi sold 6,212 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $62.06, for a total value of $385,516.72. Following the completion of the sale, the vice president now owns 6,326 shares of the company’s stock, valued at approximately $392,591.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $54.87, for a total transaction of $54,870.00. Following the completion of the sale, the chief financial officer now owns 76,849 shares of the company’s stock, valued at $4,216,704.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Adewale Oshodi sold 6,212 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $62.06, for a total transaction of $385,516.72. Following the sale, the vice president now directly owns 6,326 shares of the company’s stock, valued at approximately $392,591.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,879 shares of company stock valued at $4,342,023. Company insiders own 1.90% of the company’s stock.

International Seaways Trading Down 0.7 %

International Seaways stock traded down $0.38 during trading hours on Thursday, hitting $56.81. The company had a trading volume of 1,358,511 shares, compared to its average volume of 560,188. The firm has a market cap of $2.80 billion, a P/E ratio of 5.31 and a beta of -0.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. International Seaways, Inc. has a 1 year low of $35.51 and a 1 year high of $65.94. The company has a 50-day moving average price of $60.60 and a two-hundred day moving average price of $54.95.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The firm had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same quarter in the prior year, the company earned $3.30 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that International Seaways, Inc. will post 10.3 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 12.32%. The ex-dividend date of this dividend was Wednesday, June 12th. This is a boost from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio is presently 4.49%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus upped their price target on shares of International Seaways from $66.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat, International Seaways has an average rating of “Buy” and a consensus price target of $63.75.

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.