Paloma Partners Management Co Invests $594,000 in International Seaways, Inc. (NYSE:INSW)

Paloma Partners Management Co bought a new position in shares of International Seaways, Inc. (NYSE:INSW) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 11,160 shares of the transportation company’s stock, valued at approximately $594,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in INSW. Consolidated Portfolio Review Corp lifted its holdings in International Seaways by 7.0% during the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock worth $357,000 after purchasing an additional 516 shares during the last quarter. Verity Asset Management Inc. lifted its holdings in International Seaways by 6.3% during the 4th quarter. Verity Asset Management Inc. now owns 9,195 shares of the transportation company’s stock worth $418,000 after purchasing an additional 549 shares during the last quarter. Headlands Technologies LLC lifted its holdings in International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the last quarter. ProShare Advisors LLC lifted its holdings in International Seaways by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock worth $389,000 after purchasing an additional 574 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in International Seaways by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 70,656 shares of the transportation company’s stock worth $3,213,000 after purchasing an additional 1,247 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on INSW shares. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus lifted their price target on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $64.75.

International Seaways Price Performance

Shares of INSW traded up $0.41 during midday trading on Monday, hitting $55.25. The company’s stock had a trading volume of 460,006 shares, compared to its average volume of 556,939. International Seaways, Inc. has a one year low of $40.11 and a one year high of $65.94. The company’s fifty day simple moving average is $59.66 and its two-hundred day simple moving average is $55.76. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 5.17 and a beta of -0.06.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.54. The business had revenue of $274.40 million for the quarter, compared to analyst estimates of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. International Seaways’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 EPS. As a group, equities analysts expect that International Seaways, Inc. will post 10.12 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were given a dividend of $1.75 per share. The ex-dividend date was Wednesday, June 12th. This represents a $7.00 dividend on an annualized basis and a yield of 12.67%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s payout ratio is currently 4.49%.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $54.87, for a total transaction of $54,870.00. Following the sale, the chief financial officer now owns 76,849 shares in the company, valued at approximately $4,216,704.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Seaways news, VP Adewale Oshodi sold 6,212 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $62.06, for a total value of $385,516.72. Following the sale, the vice president now owns 6,326 shares in the company, valued at approximately $392,591.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $54.87, for a total value of $54,870.00. Following the completion of the transaction, the chief financial officer now directly owns 76,849 shares in the company, valued at $4,216,704.63. The disclosure for this sale can be found here. Insiders have sold 70,879 shares of company stock worth $4,342,023 in the last 90 days. Insiders own 1.90% of the company’s stock.

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.