Consolidated Portfolio Review Corp Increases Position in International Seaways, Inc. (NYSE:INSW)

Consolidated Portfolio Review Corp increased its stake in shares of International Seaways, Inc. (NYSE:INSW) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,846 shares of the transportation company’s stock after buying an additional 516 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in International Seaways were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INSW. Millennium Management LLC purchased a new position in shares of International Seaways in the second quarter valued at $17,047,000. Two Sigma Advisers LP lifted its stake in shares of International Seaways by 2,140.5% during the 4th quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company’s stock worth $17,957,000 after purchasing an additional 463,400 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of International Seaways during the fourth quarter worth $13,907,000. Frontier Capital Management Co. LLC acquired a new position in International Seaways in the first quarter valued at $13,924,000. Finally, Victory Capital Management Inc. boosted its stake in International Seaways by 405.7% in the 4th quarter. Victory Capital Management Inc. now owns 372,882 shares of the transportation company’s stock worth $13,804,000 after buying an additional 299,149 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the sale, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total transaction of $53,390.00. Following the completion of the transaction, the chief financial officer now owns 69,010 shares of the company’s stock, valued at $3,684,443.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,846 shares of company stock worth $3,073,978. Insiders own 2.00% of the company’s stock.

International Seaways Stock Performance

International Seaways stock opened at $52.16 on Monday. The company has a market cap of $2.55 billion, a PE ratio of 4.64 and a beta of -0.05. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $55.59. The company has a fifty day moving average price of $52.53 and a two-hundred day moving average price of $49.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating 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. Research analysts expect that International Seaways, Inc. will post 9.33 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 9.20%. International Seaways’s dividend payout ratio is currently 4.27%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Saturday, April 6th. 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 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.