GSA Capital Partners LLP Increases Stock Holdings in International Seaways, Inc. (NYSE:INSW)

GSA Capital Partners LLP raised its position in shares of International Seaways, Inc. (NYSE:INSW) by 112.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,453 shares of the transportation company’s stock after purchasing an additional 9,245 shares during the quarter. GSA Capital Partners LLP’s holdings in International Seaways were worth $900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in International Seaways during the second quarter valued at approximately $21,875,000. Vanguard Group Inc. raised its holdings in International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares during the period. American Century Companies Inc. lifted its position in International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in International Seaways during the second quarter valued at about $8,781,000. Finally, Boston Partners increased its position in International Seaways by 433.9% in the first quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock worth $8,718,000 after buying an additional 133,102 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of NYSE:INSW opened at $41.23 on Friday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.98 and a beta of -0.06. The firm has a fifty day moving average price of $48.20 and a 200 day moving average price of $53.86. International Seaways, Inc. has a fifty-two week low of $41.22 and a fifty-two week high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.87 and a current ratio of 3.60.

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

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.32 dividend. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a yield of 12.81%. International Seaways’s payout ratio is presently 4.64%.

Insider Transactions at International Seaways

In other news, SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total transaction of $49,750.00. Following the sale, the senior vice president now directly owns 46,887 shares in the company, valued at approximately $2,332,628.25. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 approximately $792,079.53. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $640,120 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on INSW. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group reduced their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and lowered their target price for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.67.

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.