Gordian Capital Singapore Pte Ltd Has $441,000 Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Gordian Capital Singapore Pte Ltd lowered its position in shares of International Seaways, Inc. (NYSE:INSW) by 31.9% in the third quarter, Holdings Channel reports. The institutional investor owned 8,550 shares of the transportation company’s stock after selling 4,000 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in International Seaways were worth $441,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC grew its position in International Seaways by 102.1% during the second quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after buying an additional 10,652 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of International Seaways during the 3rd quarter worth $2,161,000. Charles Schwab Investment Management Inc. grew its holdings in shares of International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of International Seaways by 227.5% in the second quarter. QRG Capital Management Inc. now owns 26,253 shares of the transportation company’s stock worth $1,552,000 after purchasing an additional 18,237 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in International Seaways by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 71,206 shares of the transportation company’s stock valued at $3,671,000 after purchasing an additional 33,392 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In related news, SVP Derek G. Solon sold 1,200 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the sale, the senior vice president now directly owns 45,687 shares in the company, valued at $1,777,681.17. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the transaction, the senior vice president now directly owns 52,803 shares in the company, valued at $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,200 shares of company stock worth $758,822. 1.90% of the stock is currently owned by insiders.

International Seaways Trading Down 1.3 %

INSW opened at $37.06 on Monday. The company has a market cap of $1.82 billion, a P/E ratio of 3.58 and a beta of -0.10. 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 company’s 50 day moving average is $45.06 and its 200-day moving average is $51.61. International Seaways, Inc. has a 1-year low of $36.65 and a 1-year high of $65.94.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. The firm had revenue of $225.20 million for 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%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.99 earnings per share. Equities research analysts predict that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 14.25%. The ex-dividend date is Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is presently 4.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on INSW shares. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price objective for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their target price on 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 analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.67.

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.