Empowered Funds LLC Boosts Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Empowered Funds LLC lifted its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 470.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 273,032 shares of the transportation company’s stock after acquiring an additional 225,196 shares during the quarter. Empowered Funds LLC’s holdings in International Seaways were worth $9,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position in shares of International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares in the last quarter. Barclays PLC raised its stake in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of International Seaways during the 3rd quarter valued at $6,168,000. Nisa Investment Advisors LLC lifted its holdings in International Seaways by 1,677.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company’s stock worth $3,987,000 after purchasing an additional 104,704 shares in the last quarter. Finally, Private Management Group Inc. boosted its stake in International Seaways by 29.9% in the 4th quarter. Private Management Group Inc. now owns 382,750 shares of the transportation company’s stock worth $13,756,000 after purchasing an additional 88,007 shares during the period. 67.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now owns 151,475 shares in the company, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,200 shares of company stock valued at $244,062 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INSW. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group decreased their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Price Performance

Shares of NYSE INSW opened at $39.36 on Monday. The stock’s 50-day simple moving average is $37.21 and its two-hundred day simple moving average is $44.49. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94. The firm has a market capitalization of $1.94 billion, a P/E ratio of 3.80 and a beta of -0.11. The company has a quick ratio of 3.60, a current 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 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. During the same period in the prior year, the business earned $1.99 earnings per share. International Seaways’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

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.