Paloma Partners Management Co Takes Position in International Seaways, Inc. (NYSE:INSW)

Paloma Partners Management Co bought a new stake in International Seaways, Inc. (NYSE:INSW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,160 shares of the transportation company’s stock, valued at approximately $594,000.

A number of other institutional investors have also modified their holdings of the business. Consolidated Portfolio Review Corp increased its holdings in shares of International Seaways by 7.0% in the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after acquiring an additional 516 shares during the period. Verity Asset Management Inc. increased its stake in International Seaways by 6.3% in the 4th quarter. Verity Asset Management Inc. now owns 9,195 shares of the transportation company’s stock valued at $418,000 after buying an additional 549 shares during the period. Headlands Technologies LLC increased 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 buying an additional 574 shares during the period. ProShare Advisors LLC increased its stake in 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 buying an additional 574 shares during the period. Finally, Federated Hermes Inc. increased its stake in International Seaways by 1.8% in the 4th quarter. Federated Hermes Inc. now owns 70,656 shares of the transportation company’s stock valued at $3,213,000 after buying an additional 1,247 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total transaction of $194,100.00. Following the transaction, the senior vice president now directly owns 54,803 shares in the company, valued at approximately $3,545,754.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Adewale Oshodi sold 6,212 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $62.06, for a total transaction of $385,516.72. Following the transaction, the vice president now directly owns 6,326 shares in the company, valued at approximately $392,591.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William F. Nugent sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total transaction of $194,100.00. Following the completion of the transaction, the senior vice president now owns 54,803 shares in the company, valued at approximately $3,545,754.10. The disclosure for this sale can be found here. Insiders have sold 70,879 shares of company stock valued at $4,342,023 in the last ninety days. Insiders own 1.90% of the company’s stock.

International Seaways Price Performance

NYSE INSW traded up $0.41 during trading hours on Monday, reaching $55.25. The company’s stock had a trading volume of 460,006 shares, compared to its average volume of 556,939. The stock has a market cap of $2.73 billion, a PE ratio of 5.17 and a beta of -0.06. International Seaways, Inc. has a fifty-two week low of $40.11 and a fifty-two week high of $65.94. The company’s 50-day moving average is $59.66 and its two-hundred day moving average is $55.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The firm had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the prior year, the company earned $3.30 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. Analysts forecast that International Seaways, Inc. will post 10.12 EPS for the current year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were paid a dividend of $1.75 per share. This is a boost from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a dividend yield of 12.67%. The ex-dividend date was Wednesday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

Analyst Ratings Changes

INSW has been the topic of a number of recent analyst reports. StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus upped their price target on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $64.75.

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.