Intrust Bank NA Acquires 3,075 Shares of International Seaways, Inc. (NYSE:INSW)

Intrust Bank NA boosted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 14.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,700 shares of the transportation company’s stock after buying an additional 3,075 shares during the period. Intrust Bank NA owned approximately 0.05% of International Seaways worth $1,123,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of International Seaways in the third quarter valued at approximately $224,000. Raymond James & Associates bought a new stake in International Seaways during the third quarter worth about $274,000. Baker Ellis Asset Management LLC bought a new position in International Seaways in the 3rd quarter valued at about $220,000. Guyasuta Investment Advisors Inc. bought a new stake in shares of International Seaways during the 3rd quarter worth approximately $310,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of International Seaways by 34.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,535 shares of the transportation company’s stock worth $294,000 after acquiring an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

INSW has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th. Stifel Nicolaus boosted their target price on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Saturday.

International Seaways Trading Down 0.3 %

NYSE:INSW traded down $0.19 on Tuesday, reaching $55.35. 76,593 shares of the stock traded hands, compared to its average volume of 526,243. International Seaways, Inc. has a 1-year low of $34.77 and a 1-year high of $56.14. The company’s 50 day moving average is $52.83 and its 200-day moving average is $49.90. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 4.94 and a beta of -0.05. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.10. The firm had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Equities research analysts anticipate that International Seaways, Inc. will post 9.33 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 8.67%. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 136,260 shares in the company, valued at $7,088,245.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the transaction, the chief financial officer now owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the sale, the chief executive officer now directly owns 136,260 shares in the company, valued at $7,088,245.20. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock worth $3,073,978 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.