Cynosure Group LLC Increases Stock Position in International Seaways, Inc. (NYSE:INSW)

Cynosure Group LLC grew its stake in International Seaways, Inc. (NYSE:INSW) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,171 shares of the transportation company’s stock after acquiring an additional 447 shares during the period. Cynosure Group LLC’s holdings in International Seaways were worth $370,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in International Seaways by 7.7% in the first 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. Price T Rowe Associates Inc. MD lifted its stake in International Seaways by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the transportation company’s stock worth $1,170,000 after acquiring an additional 1,417 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in International Seaways by 36.0% during the 1st quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company’s stock valued at $1,165,000 after acquiring an additional 5,802 shares during the period. Tidal Investments LLC grew its position in International Seaways by 20.6% in the 1st quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company’s stock valued at $1,920,000 after acquiring an additional 6,166 shares in the last quarter. Finally, Boston Partners grew its position 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 acquiring an additional 133,102 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on INSW. Jefferies Financial Group lowered 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, November 14th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and cut their price objective for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Buying and Selling at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares of the company’s stock, valued at $6,336,199.25. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways 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 directly owns 16,109 shares in the company, valued at approximately $792,079.53. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $672,590 over the last three months. Insiders own 1.90% of the company’s stock.

International Seaways Trading Up 0.2 %

NYSE INSW opened at $39.62 on Friday. International Seaways, Inc. has a 52 week low of $38.67 and a 52 week high of $65.94. The firm has a 50 day moving average of $46.85 and a two-hundred day moving average of $52.91. The stock has a market capitalization of $1.95 billion, a PE ratio of 3.83 and a beta of -0.06. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last posted its earnings results 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 firm had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 earnings per share. As a group, research analysts expect that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.32 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.33%. International Seaways’s payout ratio is presently 4.64%.

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.