DMC Group LLC Has $280,000 Position in International Seaways, Inc. (NYSE:INSW)

DMC Group LLC boosted its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 27.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,434 shares of the transportation company’s stock after acquiring an additional 1,185 shares during the period. DMC Group LLC’s holdings in International Seaways were worth $280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in INSW. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways in the 1st quarter valued at about $27,000. EdgeRock Capital LLC bought a new stake in International Seaways in the second quarter valued at approximately $28,000. Blue Trust Inc. acquired a new stake in International Seaways in the third quarter worth $41,000. Headlands Technologies LLC boosted its position in shares of International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the period. Institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their target price on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Seaways has a consensus rating of “Buy” and a consensus price target of $68.00.

Insider Activity at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the completion of the transaction, the chief financial officer now directly owns 38,849 shares in the company, valued at $2,174,378.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $55.97, for a total transaction of $55,970.00. Following the transaction, the chief financial officer now owns 38,849 shares of the company’s stock, valued at $2,174,378.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,000 shares of company stock valued at $751,840. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

INSW opened at $49.98 on Friday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 4.67 and a beta of -0.08. The business’s 50-day moving average price is $50.74 and its two-hundred day moving average price is $55.17. International Seaways, Inc. has a 1 year low of $42.08 and a 1 year high of $65.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same period in the prior year, the business posted $3.12 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities analysts expect that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date was Wednesday, September 11th. International Seaways’s payout ratio is 4.49%.

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.