BNP Paribas Financial Markets Cuts Stock Holdings in International Seaways, Inc. (NYSE:INSW)

BNP Paribas Financial Markets lessened its position in International Seaways, Inc. (NYSE:INSWFree Report) by 71.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,144 shares of the transportation company’s stock after selling 43,648 shares during the quarter. BNP Paribas Financial Markets’ holdings in International Seaways were worth $780,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INSW. International Assets Investment Management LLC purchased a new stake in International Seaways during the 4th quarter valued at about $4,137,000. Qube Research & Technologies Ltd increased its holdings in shares of International Seaways by 103.9% in the third quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock valued at $1,991,000 after purchasing an additional 22,545 shares during the last quarter. Hosking Partners LLP lifted its position in International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after buying an additional 161,643 shares in the last quarter. Natixis Advisors L.P. boosted its stake in International Seaways by 103.2% during the third quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock worth $1,889,000 after buying an additional 21,320 shares during the last quarter. Finally, Barclays PLC grew its holdings in International Seaways by 160.9% in the 3rd quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock valued at $2,498,000 after buying an additional 34,242 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on International Seaways

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 1,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $64.90, for a total value of $64,900.00. Following the sale, the senior vice president now owns 47,887 shares in the company, valued at approximately $3,107,866.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Derek G. Solon sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $64.90, for a total value of $64,900.00. Following the completion of the transaction, the senior vice president now owns 47,887 shares of the company’s stock, valued at $3,107,866.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William F. Nugent sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total transaction of $194,100.00. Following the sale, the senior vice president now directly owns 54,803 shares in the company, valued at $3,545,754.10. The disclosure for this sale can be found here. Insiders have sold 79,693 shares of company stock worth $4,389,365 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Up 2.5 %

Shares of INSW opened at $64.96 on Friday. The company’s 50-day moving average price is $56.80 and its 200 day moving average price is $52.02. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $65.94. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.21 billion, a P/E ratio of 6.04 and a beta of -0.05.

International Seaways (NYSE:INSWGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 49.88% and a return on equity of 29.74%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. On average, sell-side analysts forecast that International Seaways, Inc. will post 10.07 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a $1.75 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date is Wednesday, June 12th. This represents a $7.00 dividend on an annualized basis and a yield of 10.78%. International Seaways’s payout ratio is presently 4.49%.

International Seaways Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

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