Donald Smith & CO. Inc. Has $73.40 Million Position in International Seaways, Inc. (NYSE:INSW)

Donald Smith & CO. Inc. grew its position in shares of International Seaways, Inc. (NYSE:INSW) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,613,803 shares of the transportation company’s stock after acquiring an additional 318,962 shares during the quarter. International Seaways accounts for 1.9% of Donald Smith & CO. Inc.’s holdings, making the stock its 22nd biggest position. Donald Smith & CO. Inc.’s holdings in International Seaways were worth $73,396,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the 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 owns 19,098 shares in the company, valued at $1,013,912.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Lois K. Zabrocky sold 13,760 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the 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 sale, the director now directly owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INSW has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price 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. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday.

International Seaways Trading Up 0.7 %

NYSE:INSW traded up $0.41 during mid-day trading on Monday, reaching $55.54. 590,847 shares of the company’s stock traded hands, compared to its average volume of 532,053. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $55.67. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 4.92 and a beta of -0.05. The company has a 50 day moving average price of $52.78 and a 200-day moving average price of $49.83.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. On average, sell-side analysts predict that International Seaways, Inc. will post 9.33 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 8.64%. International Seaways’s payout ratio is 4.27%.

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.