Rossby Financial LCC Buys 530 Shares of International Seaways Inc. $INSW

Rossby Financial LCC boosted its stake in shares of International Seaways Inc. (NYSE:INSW) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,386 shares of the transportation company’s stock after buying an additional 530 shares during the quarter. Rossby Financial LCC’s holdings in International Seaways were worth $561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after buying an additional 596 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in International Seaways by 139.9% during the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company’s stock valued at $690,000 after buying an additional 12,128 shares in the last quarter. KBC Group NV lifted its holdings in International Seaways by 61.2% during the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company’s stock valued at $93,000 after buying an additional 1,063 shares in the last quarter. Arizona State Retirement System lifted its holdings in International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock valued at $398,000 after buying an additional 455 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in International Seaways by 550.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,542 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Trading Up 0.7%

NYSE:INSW opened at $48.61 on Tuesday. International Seaways Inc. has a one year low of $27.20 and a one year high of $49.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $2.40 billion, a P/E ratio of 10.11 and a beta of 0.01. The firm has a 50-day simple moving average of $46.08 and a 200-day simple moving average of $40.81.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. The firm had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. Equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, September 10th. International Seaways’s payout ratio is 9.98%.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.00, for a total transaction of $44,000.00. Following the completion of the transaction, the chief financial officer owned 67,695 shares in the company, valued at $2,978,580. The trade was a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Derek G. Solon sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total transaction of $124,050.00. Following the transaction, the senior vice president owned 52,893 shares of the company’s stock, valued at approximately $2,187,125.55. This trade represents a 5.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock worth $777,530 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INSW. BTIG Research decreased their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.67.

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.