Charles Schwab Investment Management Inc. Raises Holdings in International Seaways, Inc. (NYSE:INSW)

Charles Schwab Investment Management Inc. increased its holdings in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,611 shares of the transportation company's stock after buying an additional 32,953 shares during the period. Charles Schwab Investment Management Inc. owned about 0.94% of International Seaways worth $16,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Bfsg LLC grew its position in shares of International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock valued at $99,000 after purchasing an additional 357 shares in the last quarter. Franklin Resources Inc. boosted its stake in International Seaways by 0.8% during 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 during the last quarter. KBC Group NV boosted its stake in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after buying an additional 428 shares during the last quarter. Cynosure Group LLC grew its holdings in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock valued at $370,000 after buying an additional 447 shares in the last quarter. Finally, DMC Group LLC increased its stake in shares of International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock worth $215,000 after acquiring an additional 540 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

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Analyst Upgrades and Downgrades

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 target price on shares of International Seaways in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, International Seaways currently has an average rating of "Moderate Buy" and an average price target of $57.50.

International Seaways Trading Up 1.6 %

Shares of NYSE:INSW traded up $0.55 during midday trading on Monday, reaching $34.35. 464,172 shares of the company's stock were exchanged, compared to its average volume of 688,749. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 3.32 and a beta of -0.17. International Seaways, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $65.94. The firm's 50 day simple moving average is $36.95 and its two-hundred day simple moving average is $41.20. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 1.40%. The ex-dividend date is Friday, March 14th. International Seaways's payout ratio is 5.72%.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the transaction, the senior vice president now owns 48,803 shares of the company's stock, valued at approximately $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company'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 directly owns 179,557 shares in the company, valued at approximately $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 have sold 9,400 shares of company stock worth $324,296 over the last ninety days. Corporate 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.