Amalgamated Bank raised its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 733.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,897 shares of the transportation company's stock after purchasing an additional 10,470 shares during the period. Amalgamated Bank's holdings in International Seaways were worth $428,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Bfsg LLC boosted its stake in International Seaways by 14.9% in the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock worth $99,000 after purchasing an additional 357 shares during the period. Franklin Resources Inc. lifted its holdings in shares of International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock worth $2,428,000 after buying an additional 379 shares in the last quarter. KBC Group NV boosted its position in shares of International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after acquiring an additional 428 shares during the period. Cynosure Group LLC grew its stake in International Seaways by 6.6% during the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock valued at $370,000 after acquiring an additional 447 shares in the last quarter. Finally, DMC Group LLC grew its stake in International Seaways by 9.9% during the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock valued at $215,000 after acquiring an additional 540 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on INSW shares. Jefferies Financial Group reissued a "buy" rating and issued a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.
Check Out Our Latest Stock Report on INSW
Insiders Place Their Bets
In related news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, January 31st. The stock was 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 in the company, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 3,000 shares of company stock valued at $108,060 over the last three months. Insiders own 1.90% of the company's stock.
International Seaways Price Performance
Shares of International Seaways stock traded up $1.00 during trading on Thursday, hitting $34.64. 307,963 shares of the stock traded hands, compared to its average volume of 675,632. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 3.36 and a beta of -0.11. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The firm's fifty day moving average is $37.59 and its 200-day moving average is $42.66.
International Seaways Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways's payout ratio is presently 5.72%.
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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