Moors & Cabot Inc. Purchases 1,765 Shares of International Seaways, Inc. (NYSE:INSW)

Moors & Cabot Inc. raised its position in International Seaways, Inc. (NYSE:INSW) by 17.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 11,898 shares of the transportation company’s stock after acquiring an additional 1,765 shares during the period. Moors & Cabot Inc.’s holdings in International Seaways were worth $613,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in shares of International Seaways in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC acquired a new position in International Seaways during the first quarter worth $27,000. Blue Trust Inc. acquired a new position in International Seaways during the third quarter worth $41,000. KBC Group NV raised its holdings in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after buying an additional 428 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the sale, the chief executive officer now owns 151,475 shares in the company, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total value of $43,050.00. Following the completion of the transaction, the senior vice president now owns 51,803 shares in the company, valued at approximately $2,230,119.15. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $723,780 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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 lowered their price objective on 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 International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Trading Up 0.1 %

NYSE:INSW opened at $41.40 on Friday. International Seaways, Inc. has a 52 week low of $40.86 and a 52 week high of $65.94. The firm has a 50-day moving average price of $47.66 and a two-hundred day moving average price of $53.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 4.00 and a beta of -0.06.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million during 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 quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 earnings per share. On average, equities analysts expect that International Seaways, Inc. will post 7.92 earnings per share 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. Stockholders of record on Friday, December 13th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a dividend yield of 12.75%. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

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.