Donald Smith & CO. Inc. Sells 1,238,567 Shares of International Seaways, Inc. (NYSE:INSW)

Donald Smith & CO. Inc. trimmed its stake in International Seaways, Inc. (NYSE:INSW) by 84.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,926 shares of the transportation company’s stock after selling 1,238,567 shares during the period. Donald Smith & CO. Inc. owned about 0.47% of International Seaways worth $13,655,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after purchasing an additional 286,295 shares during the period. American Century Companies Inc. grew its position in shares of International Seaways by 25.7% in the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after acquiring an additional 252,492 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of International Seaways by 57.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock worth $18,367,000 after acquiring an additional 147,740 shares during the period. Frontier Capital Management Co. LLC boosted its position in International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after purchasing an additional 139,569 shares during the period. Finally, Boston Partners grew its stake in International Seaways by 433.9% in the 1st quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock valued at $8,718,000 after buying an additional 133,102 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the transaction, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,000 shares of company stock valued at $560,390. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on INSW. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus upped their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and an average target price of $64.75.

International Seaways Trading Up 0.4 %

Shares of INSW opened at $49.32 on Monday. The business’s 50-day moving average price is $52.45 and its 200-day moving average price is $55.42. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.45 billion, a PE ratio of 4.61 and a beta of -0.07. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same quarter last year, the business posted $3.12 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. On average, equities analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. International Seaways’s dividend payout ratio is currently 4.49%.

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.