Capital Fund Management S.A. Makes New Investment in International Seaways, Inc. (NYSE:INSW)

Capital Fund Management S.A. purchased a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,064 shares of the transportation company's stock, valued at approximately $937,000. Capital Fund Management S.A. owned about 0.05% of International Seaways at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INSW. Geode Capital Management LLC grew its position in shares of International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after purchasing an additional 38,871 shares in the last quarter. Barclays PLC boosted its stake in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after buying an additional 174,695 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in International Seaways by 1,677.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock worth $3,987,000 after buying an additional 104,704 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in International Seaways in the 4th quarter valued at $804,000. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of International Seaways in the 4th quarter worth $1,121,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 179,557 shares of the company's stock, valued at $6,223,445.62. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares in the company, valued at $1,684,625.67. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,400 shares of company stock worth $385,176. Corporate insiders own 1.90% of the company's stock.

International Seaways Trading Up 4.3 %

NYSE INSW traded up $1.37 on Friday, reaching $33.31. The stock had a trading volume of 581,436 shares, compared to its average volume of 743,345. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 3.22 and a beta of -0.01. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $34.05 and a two-hundred day moving average price of $38.53. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.94.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, March 14th. International Seaways's payout ratio is 5.72%.

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.