Tidal Investments LLC Sells 15,374 Shares of International Seaways, Inc. (NYSE:INSW)

Tidal Investments LLC reduced its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 46.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,960 shares of the transportation company’s stock after selling 15,374 shares during the period. Tidal Investments LLC’s holdings in International Seaways were worth $645,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of INSW. Bridgeway Capital Management LLC purchased a new position in International Seaways during the 4th quarter valued at about $14,269,000. Vanguard Group Inc. lifted its position in International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock valued at $171,043,000 after acquiring an additional 369,145 shares during the period. Clearbridge Investments LLC purchased a new position in International Seaways during the 4th quarter valued at about $11,374,000. Empowered Funds LLC lifted its position in International Seaways by 470.8% during the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock valued at $9,813,000 after acquiring an additional 225,196 shares during the period. Finally, Principal Financial Group Inc. lifted its position in International Seaways by 685.6% during the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company’s stock valued at $8,070,000 after acquiring an additional 195,961 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Up 1.4%

Shares of International Seaways stock opened at $37.87 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market capitalization of $1.87 billion, a PE ratio of 3.66 and a beta of -0.01. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.94. The company has a 50-day simple moving average of $34.34 and a two-hundred day simple moving average of $36.36.

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

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.27%. International Seaways’s dividend payout ratio (DPR) is presently 7.42%.

Insider Activity

In other news, SVP Derek G. Solon sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the transaction, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at $1,684,625.67. The trade was a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the transaction, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at $1,892,824.28. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,900 shares of company stock valued at $513,716 over the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and set a $48.00 price target on shares of International Seaways in a research report on Thursday, May 8th.

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.