Navellier & Associates Inc. Has $1.05 Million Holdings in International Seaways, Inc. (NYSE:INSW)

Navellier & Associates Inc. lessened its position in International Seaways, Inc. (NYSE:INSW) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,449 shares of the transportation company’s stock after selling 4,621 shares during the quarter. Navellier & Associates Inc.’s holdings in International Seaways were worth $1,054,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in INSW. Millennium Management LLC bought a new stake in shares of International Seaways in the 2nd quarter valued at approximately $21,875,000. Vanguard Group Inc. increased its position in International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after acquiring an additional 286,295 shares in the last quarter. American Century Companies Inc. raised its stake in shares of International Seaways by 25.7% in the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after acquiring an additional 252,492 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of International Seaways during the second quarter valued at approximately $8,781,000. Finally, Boston Partners raised its position in International Seaways by 433.9% in the 1st quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock worth $8,718,000 after purchasing an additional 133,102 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on INSW. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group reduced their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Two 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $41.83, for a total transaction of $83,660.00. Following the transaction, the chief executive officer now owns 151,475 shares of the company’s stock, valued at $6,336,199.25. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the sale, the senior vice president now owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,000 shares of company stock valued at $723,780. 1.90% of the stock is currently owned by insiders.

International Seaways Price Performance

INSW opened at $41.35 on Friday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12 month low of $40.86 and a 12 month high of $65.94. The company has a fifty day simple moving average of $47.81 and a 200 day simple moving average of $53.57. The stock has a market cap of $2.03 billion, a P/E 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, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the prior year, the company posted $1.99 earnings per share. International Seaways’s revenue was down 6.8% on a year-over-year basis. On average, research analysts expect that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.32 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 12.77%. International Seaways’s dividend payout ratio 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.