Price T Rowe Associates Inc. MD Has $1.02 Million Stock Position in International Seaways, Inc. (NYSE:INSW)

Price T Rowe Associates Inc. MD grew its position in International Seaways, Inc. (NYSE:INSW) by 20.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,457 shares of the transportation company’s stock after acquiring an additional 4,845 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in International Seaways were worth $1,023,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its position in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after acquiring an additional 174,695 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of International Seaways by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock worth $2,428,000 after purchasing an additional 379 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of International Seaways by 1,677.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company’s stock valued at $3,987,000 after purchasing an additional 104,704 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of International Seaways in the 4th quarter valued at $735,000. Finally, KBC Group NV boosted its holdings in International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after purchasing an additional 653 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of International Seaways in a report on Thursday. SEB Equity Research set a $50.00 target price on International Seaways in a report on Friday, January 24th.

International Seaways Stock Up 3.2 %

INSW stock opened at $37.78 on Friday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.65 and a beta of -0.01. The company has a 50-day moving average of $33.40 and a two-hundred day moving average of $36.86. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.21. The firm had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.92 EPS. As a group, equities research analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 5.72%.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at $6,223,445.62. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,400 shares of company stock worth $380,086 in the last ninety days. 1.90% of the stock is currently owned by insiders.

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.