Empowered Funds LLC Acquires 22,209 Shares of International Seaways Inc. $INSW

Empowered Funds LLC grew its stake in shares of International Seaways Inc. (NYSE:INSW) by 8.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 296,331 shares of the transportation company’s stock after purchasing an additional 22,209 shares during the period. Empowered Funds LLC’s holdings in International Seaways were worth $10,810,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of INSW. Blue Trust Inc. lifted its holdings in shares of International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares in the last quarter. SummerHaven Investment Management LLC raised its position in International Seaways by 3.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company’s stock valued at $517,000 after buying an additional 426 shares during the last quarter. Arizona State Retirement System lifted its stake in International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock valued at $398,000 after acquiring an additional 455 shares in the last quarter. Rossby Financial LCC lifted its stake in International Seaways by 3.6% during the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company’s stock valued at $561,000 after acquiring an additional 530 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in International Seaways by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company’s stock worth $330,000 after acquiring an additional 585 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Trading Up 2.0%

NYSE INSW opened at $54.68 on Wednesday. The business’s fifty day moving average is $48.32 and its 200-day moving average is $43.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 11.37 and a beta of -0.02. International Seaways Inc. has a one year low of $27.20 and a one year high of $54.95.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The company had revenue of $84.82 million for the quarter. Equities research analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 9th. International Seaways’s dividend payout ratio is currently 10.93%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSW. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, BTIG Research decreased their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.12, for a total value of $88,240.00. Following the sale, the chief executive officer owned 186,771 shares of the company’s stock, valued at approximately $8,240,336.52. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $53.71, for a total value of $187,985.00. Following the completion of the transaction, the senior vice president owned 49,393 shares in the company, valued at approximately $2,652,898.03. The trade was a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,500 shares of company stock worth $1,583,345. 2.00% of the stock is currently owned by company 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.