Significant Wealth Partners LLC Purchases New Position in International Seaways, Inc. (NYSE:INSW)

Significant Wealth Partners LLC purchased a new stake in International Seaways, Inc. (NYSE:INSW) in the fourth quarter, Holdings Channel reports. The firm purchased 9,105 shares of the transportation company’s stock, valued at approximately $414,000.

Other large investors have also recently modified their holdings of the company. U S Global Investors Inc. purchased a new stake in shares of International Seaways in the third quarter valued at approximately $78,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of International Seaways in the third quarter valued at approximately $113,000. Peterson Wealth Services purchased a new stake in International Seaways during the fourth quarter worth $203,000. Baker Ellis Asset Management LLC purchased a new stake in International Seaways during the third quarter worth $220,000. Finally, SG Americas Securities LLC purchased a new stake in International Seaways during the third quarter worth $224,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

Shares of INSW opened at $53.60 on Tuesday. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $55.59. The stock has a fifty day moving average price of $52.64 and a 200-day moving average price of $49.46. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.62 billion, a PE ratio of 4.76 and a beta of -0.05.

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

International Seaways Announces Dividend

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

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares in the company, valued at approximately $4,361,927.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Lois K. Zabrocky sold 13,760 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the transaction, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the transaction, the chief financial officer now directly owns 82,161 shares in the company, valued at $4,361,927.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock worth $3,073,978. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on INSW shares. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Stifel Nicolaus upped their target price on International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group restated a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th.

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.