Loomis Sayles & Co. L P Purchases 50,809 Shares of International Seaways Inc. $INSW

Loomis Sayles & Co. L P boosted its position in International Seaways Inc. (NYSE:INSW - Free Report) by 36.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,200 shares of the transportation company's stock after buying an additional 50,809 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.39% of International Seaways worth $6,938,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds have also recently bought and sold shares of INSW. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 289 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of International Seaways by 3.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company's stock worth $517,000 after purchasing an additional 426 shares during the last quarter. Rossby Financial LCC boosted its stake in International Seaways by 3.6% during the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company's stock valued at $561,000 after purchasing an additional 530 shares during the period. Nisa Investment Advisors LLC grew its holdings in International Seaways by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company's stock valued at $330,000 after buying an additional 585 shares during the last quarter. Finally, Lesa Sroufe & Co increased its position in International Seaways by 1.1% in the 2nd quarter. Lesa Sroufe & Co now owns 58,161 shares of the transportation company's stock worth $2,122,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

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International Seaways Stock Performance

INSW opened at $51.61 on Tuesday. The stock has a market cap of $2.55 billion, a PE ratio of 10.73 and a beta of -0.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $55.18. The stock's 50 day simple moving average is $49.32 and its 200-day simple moving average is $44.02.

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International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The firm had revenue of $84.82 million during the quarter. Sell-side analysts forecast that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 9th. International Seaways's payout ratio is 10.93%.

Analysts Set New Price Targets

Ride the Waves of Wealth With This Oil Tanker 17% Yield

Several research firms have recently weighed in on INSW. BTIG Research reduced their price objective on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of International Seaways in a report on Wednesday, October 8th. Finally, Pareto Securities lowered shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, International Seaways has an average rating of "Moderate Buy" and an average price target of $52.67.

Read Our Latest Stock Report on INSW

Insider Buying and Selling at International Seaways

In related news, SVP Derek G. Solon sold 3,500 shares of the stock in a transaction dated Monday, November 10th. The shares were 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 owned 49,393 shares of the company's stock, valued at $2,652,898.03. This represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James D. Small III sold 20,000 shares of the firm's stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the transaction, the chief accounting officer owned 49,292 shares of the company's stock, valued at approximately $2,642,051.20. This represents a 28.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,500 shares of company stock worth $1,699,875. Insiders own 2.00% of the company's stock.

About International Seaways

(Free Report)

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.

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