Amalgamated Bank Trims Stock Position in International Seaways, Inc. (NYSE:INSW)

Amalgamated Bank cut its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,534 shares of the transportation company’s stock after selling 404 shares during the quarter. Amalgamated Bank’s holdings in International Seaways were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bfsg LLC purchased a new position in International Seaways during the fourth quarter worth about $167,000. U S Global Investors Inc. lifted its position in International Seaways by 144.5% during the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after buying an additional 2,500 shares during the period. Peterson Wealth Services purchased a new position in International Seaways during the fourth quarter worth about $203,000. Capricorn Fund Managers Ltd purchased a new position in International Seaways during the fourth quarter worth about $227,000. Finally, Raymond James & Associates purchased a new position in International Seaways during the third quarter worth about $274,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INSW has been the topic of a number of research reports. StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their price objective on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Finally, Stifel Nicolaus raised their price objective on International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $63.25.

International Seaways Stock Performance

Shares of NYSE:INSW opened at $64.12 on Friday. The company has a market cap of $3.17 billion, a P/E ratio of 5.99 and a beta of -0.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. International Seaways, Inc. has a one year low of $34.77 and a one year high of $65.11. The business’s 50-day simple moving average is $55.84 and its 200 day simple moving average is $51.53.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.38 by $0.54. The business had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. On average, sell-side analysts forecast that International Seaways, Inc. will post 10.07 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a dividend of $1.75 per share. This is an increase from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a dividend yield of 10.92%. The ex-dividend date of this dividend is Wednesday, June 12th. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares in the company, valued at approximately $4,361,927.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares in the company, valued at approximately $4,361,927.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Adewale Oshodi sold 6,212 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $62.06, for a total value of $385,516.72. Following the sale, the vice president now owns 6,326 shares of the company’s stock, valued at approximately $392,591.56. The disclosure for this sale can be found here. Insiders sold a total of 79,693 shares of company stock worth $4,377,555 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

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.