Moors & Cabot Inc. Purchases 1,765 Shares of International Seaways, Inc. (NYSE:INSW)

Moors & Cabot Inc. boosted its position in International Seaways, Inc. (NYSE:INSW) by 17.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,898 shares of the transportation company’s stock after acquiring an additional 1,765 shares during the quarter. Moors & Cabot Inc.’s holdings in International Seaways were worth $613,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC acquired a new stake in shares of International Seaways in the 1st quarter valued at approximately $27,000. EdgeRock Capital LLC acquired a new stake in International Seaways in the second quarter valued at approximately $28,000. Blue Trust Inc. acquired a new stake in International Seaways in the third quarter valued at approximately $41,000. KBC Group NV grew its stake in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after buying an additional 428 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after buying an additional 1,167 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Up 0.1 %

Shares of INSW opened at $41.40 on Friday. The stock’s 50-day moving average price is $47.66 and its two-hundred day moving average price is $53.48. International Seaways, Inc. has a 12 month low of $40.86 and a 12 month high of $65.94. The company has a market capitalization of $2.04 billion, a PE ratio of 4.00 and a beta of -0.06. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same period in the previous year, the firm earned $1.99 earnings per share. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.32 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.75%. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.75, for a total value of $49,750.00. Following the transaction, the senior vice president now directly owns 46,887 shares of the company’s stock, valued at approximately $2,332,628.25. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the sale, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock worth $723,780 over the last three months. 1.90% of the stock is owned by company 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.