Olympiad Research LP Buys New Shares in International Seaways, Inc. (NYSE:INSW)

Olympiad Research LP bought a new stake in shares of International Seaways, Inc. (NYSE:INSWFree Report) in the 4th quarter, HoldingsChannel reports. The firm bought 7,130 shares of the transportation company’s stock, valued at approximately $324,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INSW. Bfsg LLC acquired a new position in shares of International Seaways during the 4th quarter worth $167,000. U S Global Investors Inc. increased its stake in shares of 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 purchasing an additional 2,500 shares during the last quarter. Peterson Wealth Services acquired a new position in shares of International Seaways during the 4th quarter worth $203,000. Capricorn Fund Managers Ltd acquired a new position in shares of International Seaways during the 4th quarter worth $227,000. Finally, Raymond James & Associates acquired a new position in shares of International Seaways during the 3rd quarter worth $274,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INSW shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price target on shares of International Seaways in a report on Thursday, February 29th. StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus raised their price objective on shares of International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $63.25.

View Our Latest Stock Analysis on INSW

Insider Buying and Selling

In other International Seaways news, VP Adewale Oshodi sold 6,212 shares of International Seaways stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $62.06, for a total value of $385,516.72. Following the transaction, the vice president now owns 6,326 shares of the company’s stock, valued at $392,591.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other International Seaways news, VP Adewale Oshodi sold 6,212 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $62.06, for a total value of $385,516.72. Following the transaction, the vice president now directly owns 6,326 shares in the company, valued at $392,591.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares in the company, valued at $7,874,563.54. The disclosure for this sale can be found here. Insiders have sold 80,693 shares of company stock valued at $4,442,455 in the last 90 days. 1.90% of the stock is owned by insiders.

International Seaways Price Performance

Shares of International Seaways stock traded down $0.80 during mid-day trading on Wednesday, reaching $63.39. 174,946 shares of the stock were exchanged, compared to its average volume of 551,654. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 5.96 and a beta of -0.05. International Seaways, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $65.94. The firm has a 50-day simple moving average of $56.58 and a 200 day simple moving average of $51.94.

International Seaways (NYSE:INSWGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same quarter in the previous year, the company earned $3.30 EPS. International Seaways’s revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that International Seaways, Inc. will post 10.07 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be paid a dividend of $1.75 per share. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $7.00 annualized dividend and a yield of 11.04%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

About International Seaways

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding INSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Seaways, Inc. (NYSE:INSWFree Report).

Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.