International Seaways, Inc. (NYSE:INSW) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 58.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,041 shares of the transportation company’s stock after purchasing an additional 7,009 shares during the quarter. Intech Investment Management LLC’s holdings in International Seaways were worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in INSW. Larson Financial Group LLC acquired a new position in shares of International Seaways during the fourth quarter valued at $37,000. Sunbelt Securities Inc. bought a new stake in International Seaways in the 3rd quarter valued at about $52,000. KBC Group NV boosted its stake in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the period. R Squared Ltd bought a new position in International Seaways in the 4th quarter worth about $59,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of International Seaways in the fourth quarter valued at approximately $69,000. 67.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on INSW. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Price Performance

Shares of NYSE:INSW opened at $33.83 on Monday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 3.27 and a beta of -0.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The stock’s 50 day moving average price is $36.95 and its 200 day moving average price is $41.20.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio is presently 5.72%.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares of the company’s stock, valued at $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the sale, the chief executive officer now owns 179,557 shares of the company’s stock, valued at $6,223,445.62. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock worth $324,296 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

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.