Healthcare of Ontario Pension Plan Trust Fund Sells 71,500 Shares of International Seaways, Inc. (NYSE:INSW)

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of International Seaways, Inc. (NYSE:INSW) by 48.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,000 shares of the transportation company’s stock after selling 71,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.16% of International Seaways worth $3,970,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank boosted its holdings in shares of International Seaways by 7.3% during the 1st quarter. Swiss National Bank now owns 72,400 shares of the transportation company’s stock worth $3,852,000 after buying an additional 4,900 shares in the last quarter. ProShare Advisors LLC grew its holdings in International Seaways by 8.5% in the first quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock worth $389,000 after purchasing an additional 574 shares during the period. State Board of Administration of Florida Retirement System increased its stake in International Seaways by 269.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock valued at $2,279,000 after purchasing an additional 31,231 shares in the last quarter. Vanguard Group Inc. increased its stake in International Seaways by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after purchasing an additional 286,295 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of International Seaways during the first quarter valued at about $200,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Performance

Shares of International Seaways stock opened at $41.73 on Tuesday. International Seaways, Inc. has a 52 week low of $41.22 and a 52 week high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $48.20 and a 200-day moving average price of $53.85. The company has a market cap of $2.05 billion, a PE ratio of 4.05 and a beta of -0.06.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 EPS. Equities analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.32 per share. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.65%. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now directly owns 16,109 shares in the company, valued at $792,079.53. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,000 shares of company stock worth $723,780. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INSW has been the subject of several research reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and lowered their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group lowered their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Company 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.