CWA Asset Management Group LLC Makes New $414,000 Investment in International Seaways, Inc. (NYSE:INSW)

CWA Asset Management Group LLC purchased a new stake in International Seaways, Inc. (NYSE:INSW) during the third quarter, HoldingsChannel.com reports. The firm purchased 8,024 shares of the transportation company’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also made changes to their positions in INSW. EverSource Wealth Advisors LLC acquired a new position in International Seaways in the first quarter valued at about $27,000. EdgeRock Capital LLC bought a new position in International Seaways during the 2nd quarter worth approximately $28,000. Blue Trust Inc. acquired a new position in International Seaways during the third quarter valued at approximately $41,000. Headlands Technologies LLC increased its stake in International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares in the last quarter. Finally, Quarry LP raised its holdings in International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Insider Activity

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the transaction, the senior vice president now owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, September 16th. The shares were sold at an average price of $50.30, for a total transaction of $100,600.00. Following the completion of the transaction, the chief executive officer now directly owns 155,475 shares of the company’s stock, valued at $7,820,392.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the transaction, the senior vice president now directly owns 53,803 shares in the company, valued at $2,754,175.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,000 shares of company stock valued at $640,120. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Stifel Nicolaus cut 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. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research report on Thursday, November 7th. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

International Seaways Stock Performance

Shares of International Seaways stock opened at $42.54 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 4.11 and a beta of -0.06. The stock’s 50-day moving average is $48.82 and its 200-day moving average is $54.22. International Seaways, Inc. has a one year low of $42.05 and a one year high of $65.94.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a return on equity of 24.91% and a net margin of 50.91%. The business’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.99 EPS. Equities analysts predict that International Seaways, Inc. will post 8.44 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a dividend yield of 12.41%. International Seaways’s payout ratio is currently 4.64%.

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.