Frontier Capital Management Co. LLC Sells 211,371 Shares of International Seaways, Inc. (NYSE:INSW)

Frontier Capital Management Co. LLC cut its stake in shares of International Seaways, Inc. (NYSE:INSW) by 92.5% during the 4th quarter, Holdings Channel reports. The fund owned 17,123 shares of the transportation company’s stock after selling 211,371 shares during the period. Frontier Capital Management Co. LLC’s holdings in International Seaways were worth $615,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in INSW. Deutsche Bank AG increased its holdings in International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company’s stock worth $1,257,000 after purchasing an additional 11,050 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in International Seaways during the fourth quarter worth $14,269,000. Banque Transatlantique SA purchased a new stake in International Seaways in the 4th quarter valued at $29,000. BNP Paribas Financial Markets lifted its stake in International Seaways by 76.0% during the 4th quarter. BNP Paribas Financial Markets now owns 25,617 shares of the transportation company’s stock valued at $921,000 after acquiring an additional 11,064 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in International Seaways by 64.6% during the 4th quarter. Ameriprise Financial Inc. now owns 163,569 shares of the transportation company’s stock worth $5,879,000 after acquiring an additional 64,167 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $34.01, for a total transaction of $34,010.00. Following the completion of the transaction, the senior vice president now owns 61,752 shares of the company’s stock, valued at $2,100,185.52. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,400 shares of company stock worth $380,086. 1.90% of the stock is owned by company insiders.

International Seaways Price Performance

INSW opened at $37.78 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $65.94. The firm has a 50-day moving average of $33.40 and a 200 day moving average of $36.91.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter last year, the business posted $2.92 EPS. International Seaways’s quarterly revenue was down 32.9% compared to the same quarter last year. On average, research analysts expect that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.27%. International Seaways’s dividend payout ratio is presently 5.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $48.00 price target on shares of International Seaways in a research report on Thursday. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th.

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.