Bailard Inc. Boosts Stake in International Seaways, Inc. (NYSE:INSW)

Bailard Inc. boosted its stake in International Seaways, Inc. (NYSE:INSW) by 151.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,100 shares of the transportation company’s stock after buying an additional 7,900 shares during the quarter. Bailard Inc.’s holdings in International Seaways were worth $596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bfsg LLC purchased a new stake in International Seaways in the 4th quarter valued at approximately $167,000. U S Global Investors Inc. lifted its stake in shares of International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after purchasing an additional 2,500 shares during the period. Peterson Wealth Services purchased a new position in shares of International Seaways during the 4th quarter worth $203,000. Baker Ellis Asset Management LLC purchased a new position in shares of International Seaways during the 3rd quarter worth $220,000. Finally, SG Americas Securities LLC purchased a new position in shares of International Seaways during the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Trading Up 1.0 %

Shares of INSW opened at $55.13 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.70 billion, a P/E ratio of 4.90 and a beta of -0.05. The stock’s fifty day simple moving average is $52.78 and its 200 day simple moving average is $49.79. International Seaways, Inc. has a twelve month low of $34.77 and a twelve month high of $55.59.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.10. The business had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. On average, equities research analysts forecast that International Seaways, Inc. will post 9.33 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 8.71%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is currently 4.27%.

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of recent analyst reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th. Finally, Stifel Nicolaus increased their price target on International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 19th.

Insider Buying and Selling

In related news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares in the company, valued at approximately $1,334,588.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares in the company, valued at approximately $1,334,588.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is currently owned by company insiders.

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.