Mercer Global Advisors Inc. ADV Trims Stake in International Seaways, Inc. (NYSE:INSW)

Mercer Global Advisors Inc. ADV cut its stake in International Seaways, Inc. (NYSE:INSW) by 26.2% in the fourth quarter, HoldingsChannel reports. The fund owned 11,566 shares of the transportation company’s stock after selling 4,101 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in International Seaways were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bfsg LLC increased its holdings in shares of International Seaways by 14.9% during the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after purchasing an additional 357 shares in the last quarter. Farther Finance Advisors LLC grew its position in International Seaways by 3.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock valued at $375,000 after buying an additional 360 shares during the period. Franklin Resources Inc. increased its holdings in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after buying an additional 379 shares in the last quarter. DMC Group LLC increased its holdings in International Seaways by 9.9% in the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock valued at $215,000 after buying an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of International Seaways by 30.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company’s stock worth $88,000 after acquiring an additional 564 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now owns 50,453 shares in the company, valued at approximately $1,684,625.67. This represents a 8.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the transaction, the chief executive officer now directly owns 179,557 shares in the company, valued at $6,223,445.62. This trade represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,900 shares of company stock worth $437,416. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Up 1.7%

INSW stock opened at $38.63 on Wednesday. International Seaways, Inc. has a 52 week low of $27.20 and a 52 week high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $33.57 and a 200-day simple moving average of $36.76. The stock has a market capitalization of $1.91 billion, a P/E ratio of 3.73 and a beta of -0.01.

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

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, June 12th. International Seaways’s dividend payout ratio is currently 7.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on INSW shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 price target on shares of International Seaways in a report on Thursday, May 8th. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th.

International Seaways 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.