Cwm LLC Buys 1,565 Shares of International Seaways, Inc. (NYSE:INSW)

Cwm LLC boosted its position in International Seaways, Inc. (NYSE:INSW) by 106.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,035 shares of the transportation company’s stock after purchasing an additional 1,565 shares during the quarter. Cwm LLC’s holdings in International Seaways were worth $156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways during the 1st quarter worth approximately $27,000. EdgeRock Capital LLC acquired a new stake in International Seaways during the second quarter worth approximately $28,000. Headlands Technologies LLC boosted its stake in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares during the period. Quarry LP raised its stake in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of International Seaways in the first quarter valued at approximately $108,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the transaction, the chief executive officer now directly owns 153,475 shares of the company’s stock, valued at $7,554,039.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now directly owns 16,109 shares of the company’s stock, valued at $792,079.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $49.22, for a total value of $98,440.00. Following the completion of the sale, the chief executive officer now directly owns 153,475 shares in the company, valued at approximately $7,554,039.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,000 shares of company stock valued at $751,840. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INSW. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and decreased their target price for the company from $69.00 to $56.00 in a report on Wednesday. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

International Seaways Stock Performance

International Seaways stock opened at $45.07 on Thursday. International Seaways, Inc. has a 1-year low of $42.08 and a 1-year high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.23 billion, a PE ratio of 4.21 and a beta of -0.08. The firm’s 50 day simple moving average is $50.62 and its 200 day simple moving average is $55.02.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.13). The firm had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 EPS. As a group, analysts expect that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. International Seaways’s dividend payout ratio is currently 4.49%.

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.