F M Investments LLC Boosts Holdings in International Seaways, Inc. (NYSE:INSW)

F M Investments LLC raised its holdings in International Seaways, Inc. (NYSE:INSW) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,700 shares of the transportation company’s stock after purchasing an additional 13,900 shares during the period. International Seaways accounts for about 1.7% of F M Investments LLC’s holdings, making the stock its 20th biggest position. F M Investments LLC owned 0.13% of International Seaways worth $2,988,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of INSW. U S Global Investors Inc. bought a new stake in International Seaways during the third quarter valued at approximately $78,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of International Seaways during the 3rd quarter valued at about $113,000. Peterson Wealth Services purchased a new stake in shares of International Seaways during the 4th quarter valued at about $203,000. Baker Ellis Asset Management LLC purchased a new stake in shares of International Seaways during the 3rd quarter valued at about $220,000. Finally, SG Americas Securities LLC purchased a new position in shares of International Seaways in the third quarter worth approximately $224,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total transaction of $53,390.00. Following the completion of the sale, the chief financial officer now directly owns 69,010 shares in the company, valued at $3,684,443.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.02, for a total transaction of $844,804.80. Following the sale, the chief executive officer now directly owns 136,260 shares in the company, valued at approximately $7,088,245.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the sale, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 over the last three months. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INSW has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Trading Up 0.7 %

Shares of INSW traded up $0.37 during midday trading on Tuesday, reaching $53.97. The company had a trading volume of 484,756 shares, compared to its average volume of 532,160. The stock has a market cap of $2.64 billion, a PE ratio of 4.79 and a beta of -0.05. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. International Seaways, Inc. has a 1-year low of $34.77 and a 1-year high of $55.59. The firm has a 50 day simple moving average of $52.66 and a 200-day simple moving average of $49.54.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The business had revenue of $250.73 million during the quarter, compared to analysts’ expectations of $239.36 million. Research analysts forecast that International Seaways, Inc. will post 9.42 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 8.89%. International Seaways’s payout ratio is 4.27%.

About International Seaways

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.