Knights of Columbus Asset Advisors LLC Invests $4.19 Million in International Seaways, Inc. (NYSE:INSW)

Knights of Columbus Asset Advisors LLC purchased a new position in shares of International Seaways, Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 92,043 shares of the transportation company’s stock, valued at approximately $4,186,000.

Several other large investors also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in shares of International Seaways by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 70,656 shares of the transportation company’s stock worth $3,213,000 after acquiring an additional 1,247 shares in the last quarter. Peterson Wealth Services bought a new stake in International Seaways during the 4th quarter valued at approximately $203,000. Waldron Private Wealth LLC bought a new stake in International Seaways during the 4th quarter valued at approximately $375,000. Strs Ohio boosted its stake in International Seaways by 136.6% during the 4th quarter. Strs Ohio now owns 19,400 shares of the transportation company’s stock valued at $882,000 after purchasing an additional 11,200 shares during the period. Finally, Consolidated Portfolio Review Corp boosted its stake in International Seaways by 7.0% during the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after purchasing an additional 516 shares during the period. Institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In other news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction on Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the director now directly owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock valued at $3,073,978 in the last three months. Corporate insiders own 2.00% of the company’s stock.

International Seaways Trading Up 2.8 %

INSW stock opened at $53.03 on Friday. The business has a fifty day moving average price of $52.64 and a 200 day moving average price of $49.36. International Seaways, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $55.59. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 4.71 and a beta of -0.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The firm had revenue of $250.73 million during the quarter, compared to analysts’ expectations of $239.36 million. Analysts expect that International Seaways, Inc. will post 9.27 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 9.05%. International Seaways’s dividend payout ratio is 4.27%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus increased their target price on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. Finally, StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday.

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.