Catalyst Funds Management Pty Ltd Increases Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Catalyst Funds Management Pty Ltd increased its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 21,400.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the transportation company's stock after purchasing an additional 42,800 shares during the period. Catalyst Funds Management Pty Ltd owned approximately 0.09% of International Seaways worth $1,545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INSW. Larson Financial Group LLC purchased a new stake in shares of International Seaways during the 4th quarter valued at about $37,000. Sunbelt Securities Inc. bought a new position in shares of International Seaways during the 3rd quarter valued at approximately $52,000. KBC Group NV boosted its position in shares of 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 acquiring an additional 428 shares during the last quarter. R Squared Ltd bought a new stake in International Seaways in the fourth quarter worth $59,000. Finally, Venturi Wealth Management LLC bought a new stake in International Seaways in the fourth quarter worth $69,000. Institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on INSW shares. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reiterated a "buy" rating and issued a $58.00 target price 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.50.

Remove Ads

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the sale, the senior vice president now directly owns 50,453 shares of the company's stock, valued at $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,400 shares of company stock valued at $324,296. Corporate insiders own 1.90% of the company's stock.

International Seaways Trading Up 2.6 %

NYSE:INSW traded up $0.91 during trading hours on Wednesday, hitting $35.23. The company had a trading volume of 649,481 shares, compared to its average volume of 681,325. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94. The company has a 50-day moving average of $37.20 and a 200 day moving average of $41.54. The company has a market cap of $1.73 billion, a P/E ratio of 3.40 and a beta of -0.17. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, March 14th. International Seaways's payout ratio is 5.72%.

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.