Foundry Partners LLC Lowers Stock Position in International Seaways, Inc. (NYSE:INSW)

Foundry Partners LLC decreased its holdings in International Seaways, Inc. (NYSE:INSW) by 19.9% in the 3rd quarter, Holdings Channel reports. The firm owned 8,340 shares of the transportation company’s stock after selling 2,071 shares during the period. Foundry Partners LLC’s holdings in International Seaways were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Bailard Inc. raised its holdings in shares of International Seaways by 2.4% in the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock valued at $752,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 305 shares during the period. Consolidated Portfolio Review Corp raised its stake in International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock valued at $492,000 after acquiring an additional 312 shares during the last quarter. KBC Group NV lifted its position in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the period. Finally, CWM LLC grew its stake in shares of International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 476 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Up 0.1 %

Shares of INSW stock opened at $41.40 on Friday. International Seaways, Inc. has a 1-year low of $40.86 and a 1-year high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The business’s fifty day moving average price is $47.66 and its 200 day moving average price is $53.48. The firm has a market capitalization of $2.04 billion, a PE ratio of 4.00 and a beta of -0.06.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 EPS. As a group, sell-side analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.75%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Insider Transactions at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the transaction, the senior vice president now owns 53,803 shares in the company, valued at approximately $2,754,175.57. The trade was a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 16,109 shares in the company, valued at $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 15,000 shares of company stock valued at $723,780 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.