Victory Capital Management Inc. Lowers Position in International Seaways, Inc. (NYSE:INSW)

Victory Capital Management Inc. lowered its stake in shares of International Seaways, Inc. (NYSE:INSW) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,021,768 shares of the transportation company’s stock after selling 25,655 shares during the period. Victory Capital Management Inc. owned about 2.09% of International Seaways worth $46,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bfsg LLC purchased a new stake in International Seaways during the fourth quarter worth about $167,000. U S Global Investors Inc. boosted its holdings in International Seaways by 144.5% during the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after buying an additional 2,500 shares in the last quarter. Peterson Wealth Services purchased a new stake in International Seaways during the fourth quarter worth about $203,000. SG Americas Securities LLC purchased a new stake in International Seaways during the third quarter worth about $224,000. Finally, Capricorn Fund Managers Ltd purchased a new stake in International Seaways during the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Activity

In other news, Director Alexandra Kate Blankenship sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Lois K. Zabrocky sold 16,240 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.02, for a total transaction of $844,804.80. Following the completion of the transaction, the chief executive officer now owns 136,260 shares of the company’s stock, valued at $7,088,245.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the transaction, the director now directly owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,074,618 over the last 90 days. Insiders own 2.00% of the company’s stock.

International Seaways Stock Performance

Shares of INSW opened at $56.17 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.75 billion, a P/E ratio of 4.99 and a beta of -0.05. The company has a 50-day moving average of $53.16 and a two-hundred day moving average of $50.17. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $56.77.

International Seaways (NYSE:INSW) last posted its quarterly earnings data 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. The business had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. As a group, research analysts predict that International Seaways, Inc. will post 9.33 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s dividend payout ratio is presently 4.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th.

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.