Loomis Sayles & Co. L P Has $6.94 Million Stock Holdings in International Seaways Inc. $INSW

Loomis Sayles & Co. L P increased its position in shares of International Seaways Inc. (NYSE:INSW) by 36.5% in the second quarter, HoldingsChannel reports. The firm owned 190,200 shares of the transportation company’s stock after purchasing an additional 50,809 shares during the period. Loomis Sayles & Co. L P’s holdings in International Seaways were worth $6,938,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INSW. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of International Seaways during the second quarter worth approximately $273,000. PNC Financial Services Group Inc. grew its position in International Seaways by 550.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock worth $60,000 after acquiring an additional 1,542 shares during the last quarter. HighTower Advisors LLC increased its holdings in International Seaways by 42.5% during the 1st quarter. HighTower Advisors LLC now owns 38,308 shares of the transportation company’s stock valued at $1,272,000 after purchasing an additional 11,430 shares in the last quarter. Denali Advisors LLC increased its holdings in International Seaways by 61.9% during the 2nd quarter. Denali Advisors LLC now owns 25,100 shares of the transportation company’s stock valued at $916,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Strs Ohio bought a new position in International Seaways in the 1st quarter valued at $651,000. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Down 2.6%

NYSE INSW opened at $51.61 on Tuesday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 10.73 and a beta of -0.02. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $55.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average of $49.32 and a 200-day moving average of $44.02.

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

International Seaways Announces Dividend

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

Analyst Ratings Changes

INSW has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. BTIG Research reduced their price target on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Pareto Securities cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.67.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $53.58, for a total transaction of $53,580.00. Following the completion of the sale, the chief financial officer directly owned 71,734 shares of the company’s stock, valued at $3,843,507.72. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO James D. Small III sold 20,000 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the completion of the transaction, the chief accounting officer owned 49,292 shares in the company, valued at $2,642,051.20. This represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,500 shares of company stock worth $1,699,875 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.