Peterson Wealth Services Invests $203,000 in International Seaways, Inc. (NYSE:INSW)

Peterson Wealth Services acquired a new position in shares of International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,453 shares of the transportation company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in International Seaways in the fourth quarter worth $4,137,000. Qube Research & Technologies Ltd increased its stake in International Seaways by 103.9% in the third quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock worth $1,991,000 after purchasing an additional 22,545 shares during the period. Hosking Partners LLP increased its stake in International Seaways by 20.1% in the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after purchasing an additional 161,643 shares during the period. Natixis Advisors L.P. grew its position in shares of International Seaways by 103.2% during the 3rd quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock worth $1,889,000 after buying an additional 21,320 shares in the last quarter. Finally, Barclays PLC grew its position in shares of International Seaways by 160.9% during the 3rd quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock worth $2,498,000 after buying an additional 34,242 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $51.59 on Friday. International Seaways, Inc. has a 1-year low of $34.77 and a 1-year high of $55.59. The stock’s 50-day moving average is $52.61 and its 200 day moving average is $49.29. The company has a market cap of $2.52 billion, a P/E ratio of 4.59 and a beta of -0.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last issued 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 for the quarter, compared to the consensus estimate of $239.36 million. Research analysts predict that International Seaways, Inc. will post 9.27 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 9.30%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio is presently 4.27%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Wednesday.

Insiders Place Their Bets

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the firm’s stock in a transaction dated 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 owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Alexandra Kate Blankenship sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 19,098 shares in the company, valued at $1,013,912.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares of the company’s stock, valued at $7,874,563.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is currently owned by corporate insiders.

About International Seaways

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.