Shell Asset Management Co. Increases Holdings in International Seaways, Inc. (NYSE:INSW)

Shell Asset Management Co. lifted its position in shares of International Seaways, Inc. (NYSE:INSW) by 20.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,399 shares of the transportation company’s stock after buying an additional 1,247 shares during the period. Shell Asset Management Co.’s holdings in International Seaways were worth $394,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INSW. Headlands Technologies LLC raised its holdings in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after buying an additional 574 shares in the last quarter. Bfsg LLC purchased a new position in shares of International Seaways during the 4th quarter valued at about $167,000. U S Global Investors Inc. grew its position in 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 acquiring an additional 2,500 shares during the last quarter. Cim LLC bought a new position in International Seaways during the 4th quarter worth approximately $192,000. Finally, MQS Management LLC bought a new position in International Seaways during the 1st quarter worth approximately $200,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 3,000 shares of International Seaways stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total transaction of $194,100.00. Following the sale, the senior vice president now directly owns 54,803 shares in the company, valued at $3,545,754.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP William F. Nugent sold 3,000 shares of International Seaways stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total transaction of $194,100.00. Following the sale, the senior vice president now directly owns 54,803 shares in the company, valued at $3,545,754.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $54.87, for a total value of $54,870.00. Following the sale, the chief financial officer now 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 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

International Seaways Price Performance

Shares of INSW stock opened at $54.86 on Friday. The firm has a market cap of $2.71 billion, a P/E ratio of 5.13 and a beta of -0.06. International Seaways, Inc. has a fifty-two week low of $38.67 and a fifty-two week high of $65.94. The business’s 50 day moving average price is $59.66 and its 200-day moving average price is $55.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73.

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 firm 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%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $3.30 EPS. On average, equities research analysts anticipate that International Seaways, Inc. will post 10.12 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a $1.75 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 dividend on an annualized basis and a dividend yield of 12.76%. The ex-dividend date was Wednesday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

International Seaways 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.