International Seaways, Inc. (NYSE:INSW) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in shares of International Seaways, Inc. (NYSE:INSW) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 882,531 shares of the transportation company’s stock after buying an additional 44,200 shares during the quarter. Renaissance Technologies LLC owned about 1.79% of International Seaways worth $52,184,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INSW. Federated Hermes Inc. boosted its stake in shares of International Seaways by 44.0% during the second quarter. Federated Hermes Inc. now owns 102,650 shares of the transportation company’s stock valued at $6,070,000 after acquiring an additional 31,382 shares during the last quarter. American Century Companies Inc. lifted its holdings in International Seaways by 25.7% in the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of International Seaways during the 2nd quarter worth about $1,735,000. Acadian Asset Management LLC purchased a new stake in shares of International Seaways during the second quarter worth about $2,113,000. Finally, Savant Capital LLC raised its position in shares of International Seaways by 35.8% in the second quarter. Savant Capital LLC now owns 8,380 shares of the transportation company’s stock valued at $496,000 after buying an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.83, for a total value of $58,830.00. Following the completion of the sale, the chief financial officer now directly owns 39,849 shares in the company, valued at approximately $2,344,316.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $58.83, for a total value of $58,830.00. Following the completion of the transaction, the chief financial officer now owns 39,849 shares in the company, valued at approximately $2,344,316.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares in the company, valued at approximately $7,779,265. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,000 shares of company stock worth $660,990. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on INSW shares. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $66.00 target price on shares of International Seaways in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.75.

International Seaways Trading Up 0.8 %

Shares of INSW opened at $50.96 on Wednesday. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The firm has a market capitalization of $2.52 billion, a P/E ratio of 4.76 and a beta of -0.07. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $52.20 and its 200 day simple moving average is $55.39.

International Seaways (NYSE:INSW) last issued 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 return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $256.13 million. During the same quarter in the previous year, the firm posted $3.12 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities research analysts forecast that International Seaways, Inc. will post 9.51 earnings per share for the current year.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, September 11th. International Seaways’s dividend payout ratio is presently 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.