Healthcare of Ontario Pension Plan Trust Fund Sells 71,500 Shares of International Seaways, Inc. (NYSE:INSW)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of International Seaways, Inc. (NYSE:INSW) by 48.1% in the 3rd quarter, Holdings Channel reports. The fund owned 77,000 shares of the transportation company’s stock after selling 71,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in International Seaways were worth $3,970,000 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. Swiss National Bank lifted its holdings in International Seaways by 7.3% during the first quarter. Swiss National Bank now owns 72,400 shares of the transportation company’s stock valued at $3,852,000 after purchasing an additional 4,900 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of International Seaways by 8.5% in the first quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock worth $389,000 after purchasing an additional 574 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of International Seaways by 269.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock valued at $2,279,000 after purchasing an additional 31,231 shares during the period. Vanguard Group Inc. lifted its stake in shares of International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares in the last quarter. Finally, MQS Management LLC bought a new position in International Seaways in the 1st quarter worth approximately $200,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Stock Down 0.4 %

Shares of NYSE INSW opened at $41.73 on Tuesday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $48.20 and a 200-day moving average of $53.85. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 4.05 and a beta of -0.06. International Seaways, Inc. has a 12 month low of $41.22 and a 12 month high of $65.94.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. International Seaways’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.99 earnings per share. Sell-side analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $1.32 per share. This is an increase 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 dividend on an annualized basis and a yield of 12.65%. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $51.19, for a total value of $51,190.00. Following the transaction, the senior vice president now owns 53,803 shares in the company, valued at approximately $2,754,175.57. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated 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. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock valued at $723,780 over the last 90 days. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group reduced their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.67.

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.