BNP Paribas Financial Markets Grows Stake in International Seaways, Inc. (NYSE:INSW)

BNP Paribas Financial Markets raised its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 76.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,617 shares of the transportation company’s stock after purchasing an additional 11,064 shares during the period. BNP Paribas Financial Markets’ holdings in International Seaways were worth $921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new position in International Seaways during the 4th quarter valued at approximately $37,000. Quarry LP grew its holdings in shares of International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after buying an additional 852 shares during the last quarter. R Squared Ltd purchased a new stake in shares of International Seaways during the fourth quarter valued at $59,000. KBC Group NV increased its position in shares of International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 653 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in International Seaways in the 4th quarter worth $69,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total transaction of $63,320.00. Following the completion of the sale, the chief executive officer now directly owns 198,771 shares in the company, valued at approximately $6,293,089.86. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at $1,892,824.28. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,900 shares of company stock worth $513,716 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

International Seaways Stock Down 1.8%

NYSE:INSW opened at $37.51 on Thursday. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a market capitalization of $1.85 billion, a P/E ratio of 3.62 and a beta of -0.01. The company’s fifty day moving average price is $34.15 and its 200-day moving average price is $36.58.

International Seaways (NYSE:INSW) last released 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 business had revenue of $178.34 million for 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%. The business’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.92 EPS. As a group, equities research analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.28%. International Seaways’s dividend payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INSW. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th.

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.