Invesco Ltd. Purchases 53,207 Shares of International Seaways, Inc. (NYSE:INSW)

Invesco Ltd. increased its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 50.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,656 shares of the transportation company's stock after acquiring an additional 53,207 shares during the period. Invesco Ltd. owned about 0.32% of International Seaways worth $5,666,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of INSW. Larson Financial Group LLC purchased a new stake in shares of International Seaways in the fourth quarter worth approximately $37,000. R Squared Ltd purchased a new stake in International Seaways in the 4th quarter worth approximately $59,000. KBC Group NV boosted its stake in shares of International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after buying an additional 653 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of International Seaways during the 4th quarter valued at $69,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of International Seaways in the fourth quarter worth $82,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Performance

Shares of NYSE:INSW traded down $0.12 during trading on Monday, reaching $33.82. The stock had a trading volume of 701,784 shares, compared to its average volume of 743,843. The stock has a fifty day simple moving average of $33.35 and a two-hundred day simple moving average of $37.59. 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 $27.20 and a 52 week high of $65.94. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 3.27 and a beta of -0.01.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, March 14th. International Seaways's dividend payout ratio is 5.72%.

Analyst Ratings Changes

INSW has been the subject of a number of research reports. 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

Insiders Place Their Bets

In other news, SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the transaction, the senior vice president now directly owns 50,453 shares in the company, valued at $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction 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 completion of the sale, the senior vice president now owns 48,803 shares in the company, valued at approximately $1,908,197.30. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,400 shares of company stock valued at $385,176 in the last quarter. Insiders own 1.90% of the company's stock.

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.