Donald Smith & CO. Inc. Purchases 216,325 Shares of International Seaways Inc. $INSW

Donald Smith & CO. Inc. raised its position in shares of International Seaways Inc. (NYSE:INSW) by 43.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,036 shares of the transportation company’s stock after purchasing an additional 216,325 shares during the period. Donald Smith & CO. Inc.’s holdings in International Seaways were worth $25,866,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of International Seaways by 601.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 1,293 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,542 shares in the last quarter. Blue Trust Inc. boosted its stake in International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after buying an additional 289 shares in the last quarter. GAMMA Investing LLC grew its position in International Seaways by 193.4% in the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock valued at $124,000 after acquiring an additional 2,249 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in International Seaways by 25.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,838 shares of the transportation company’s stock worth $140,000 after acquiring an additional 767 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

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

International Seaways Stock Performance

International Seaways stock opened at $51.07 on Friday. The business has a 50 day moving average of $49.64 and a 200-day moving average of $44.34. The company has a market capitalization of $2.52 billion, a P/E ratio of 11.63 and a beta of -0.20. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $55.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share 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. On average, equities research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors 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 annualized dividend and a dividend yield of 0.9%. International Seaways’s payout ratio is currently 10.93%.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $53.58, for a total value of $53,580.00. Following the completion of the sale, the chief financial officer owned 71,734 shares of the company’s stock, valued at approximately $3,843,507.72. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $53.71, for a total value of $187,985.00. Following the completion of the transaction, the senior vice president directly owned 49,393 shares in the company, valued at approximately $2,652,898.03. This represents a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 32,500 shares of company stock valued at $1,699,875. Company insiders own 2.00% of the company’s stock.

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.