Mackenzie Financial Corp Cuts Position in International Seaways, Inc. (NYSE:INSW)

Mackenzie Financial Corp decreased its holdings in International Seaways, Inc. (NYSE:INSW) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,363 shares of the transportation company’s stock after selling 865 shares during the period. Mackenzie Financial Corp owned approximately 0.07% of International Seaways worth $1,563,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in International Seaways in the fourth quarter valued at approximately $4,137,000. Qube Research & Technologies Ltd raised its stake in shares of International Seaways by 103.9% during the third quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock valued at $1,991,000 after purchasing an additional 22,545 shares during the period. Hosking Partners LLP raised its stake in shares of International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock valued at $43,404,000 after purchasing an additional 161,643 shares during the period. Natixis Advisors L.P. raised its stake in shares of International Seaways by 103.2% during the third quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock valued at $1,889,000 after purchasing an additional 21,320 shares during the period. Finally, Barclays PLC raised its stake in shares of International Seaways by 160.9% during the third quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock valued at $2,498,000 after purchasing an additional 34,242 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Up 0.7 %

INSW stock opened at $53.97 on Wednesday. International Seaways, Inc. has a twelve month low of $34.77 and a twelve month high of $55.59. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.64 billion, a P/E ratio of 4.80 and a beta of -0.05. The firm has a 50 day simple moving average of $52.66 and a 200-day simple moving average of $49.54.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The business had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. On average, equities research analysts predict that International Seaways, Inc. will post 9.42 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio is presently 4.27%.

Insiders Place Their Bets

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction on Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the transaction, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Alexandra Kate Blankenship sold 6,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $53.09, for a total transaction of $318,540.00. Following the completion of the transaction, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 over the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of analyst reports. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Stifel Nicolaus lifted their price objective on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th.

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.