Legal & General Group Plc Purchases 11,966 Shares of International Seaways Inc. $INSW

Legal & General Group Plc increased its position in International Seaways Inc. (NYSE:INSW) by 11.3% in the 2nd quarter, Holdings Channel reports. The firm owned 117,584 shares of the transportation company’s stock after buying an additional 11,966 shares during the quarter. Legal & General Group Plc’s holdings in International Seaways were worth $4,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Encompass Capital Advisors LLC acquired a new position in shares of International Seaways in the 1st quarter valued at $9,957,000. Nuveen LLC bought a new stake in International Seaways in the first quarter valued at about $9,079,000. Baird Financial Group Inc. acquired a new position in International Seaways in the first quarter worth about $6,965,000. Donald Smith & CO. Inc. lifted its stake in International Seaways by 36.0% during the first quarter. Donald Smith & CO. Inc. now owns 492,711 shares of the transportation company’s stock worth $16,358,000 after purchasing an additional 130,519 shares during the period. Finally, CSM Advisors LLC acquired a new stake in International Seaways during the second quarter valued at approximately $3,882,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Down 1.1%

Shares of INSW opened at $51.07 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 11.63 and a beta of -0.20. The stock has a fifty day moving average price of $49.64 and a two-hundred day moving average price of $44.30. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $55.18.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The business had revenue of $84.82 million for the quarter. Analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

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

Insider Activity at International Seaways

In other news, 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 sale, the chief accounting officer directly owned 49,292 shares of the company’s stock, valued at $2,642,051.20. This represents a 28.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.12, for a total transaction of $88,240.00. Following the completion of the sale, the chief executive officer directly owned 186,771 shares of the company’s stock, valued at approximately $8,240,336.52. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,500 shares of company stock valued at $1,699,875 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INSW shares. Wall Street Zen raised International Seaways from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Finally, Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.67.

About International Seaways

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.