Versor Investments LP Cuts Stake in International Seaways, Inc. (NYSE:INSW)

Versor Investments LP reduced its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 23.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,952 shares of the transportation company’s stock after selling 1,800 shares during the period. Versor Investments LP’s holdings in International Seaways were worth $307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSW. Swiss National Bank boosted its stake in International Seaways by 7.3% during the 1st quarter. Swiss National Bank now owns 72,400 shares of the transportation company’s stock worth $3,852,000 after purchasing an additional 4,900 shares during the period. Headlands Technologies LLC boosted its holdings in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares during the period. Russell Investments Group Ltd. boosted its holdings in International Seaways by 74.0% in the 1st quarter. Russell Investments Group Ltd. now owns 241,526 shares of the transportation company’s stock worth $12,849,000 after acquiring an additional 102,724 shares during the period. ProShare Advisors LLC raised its position in shares of International Seaways by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock valued at $389,000 after purchasing an additional 574 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of International Seaways by 269.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock valued at $2,279,000 after acquiring an additional 31,231 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Down 3.3 %

Shares of International Seaways stock opened at $41.25 on Friday. The stock has a 50-day moving average price of $48.20 and a 200 day moving average price of $53.87. The company has a market cap of $2.03 billion, a P/E ratio of 3.99 and a beta of -0.06. The company has a current ratio of 3.60, a quick ratio of 3.87 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 1 year low of $41.22 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the prior year, the business earned $1.99 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, analysts expect that International Seaways, Inc. will post 7.93 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, December 13th. This is an increase 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 12.80%. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analysts Forecast Growth

INSW has been the topic of several analyst reports. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group reduced their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at $2,754,175.57. This trade represents a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the transaction, the director now directly owns 16,109 shares in the company, valued at approximately $792,079.53. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock valued at $640,120 in the last three months. Corporate insiders own 1.90% of the company’s stock.

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.