International Seaways, Inc. (NYSE:INSW) Shares Sold by Intrust Bank NA

Intrust Bank NA trimmed its holdings in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 34.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,707 shares of the transportation company's stock after selling 8,399 shares during the period. Intrust Bank NA's holdings in International Seaways were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in International Seaways by 4.3% during the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after buying an additional 38,871 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of International Seaways by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock valued at $22,205,000 after acquiring an additional 32,825 shares during the period. Barclays PLC raised its position in shares of International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after acquiring an additional 174,695 shares in the last quarter. FMR LLC lifted its stake in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new stake in International Seaways during the third quarter valued at about $682,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

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International Seaways Stock Performance

Shares of International Seaways stock traded down $0.87 during trading on Thursday, hitting $32.25. 396,376 shares of the company's stock were exchanged, compared to its average volume of 712,763. International Seaways, Inc. has a 52-week low of $31.70 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 3.12 and a beta of -0.01. The business has a 50-day simple moving average of $36.04 and a 200-day simple moving average of $40.39.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. International Seaways's dividend payout ratio (DPR) is presently 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 dated Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the transaction, the senior vice president now directly owns 56,846 shares of the company's stock, valued at approximately $1,854,884.98. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the sale, the senior vice president now directly owns 50,453 shares of the company's stock, valued at approximately $1,684,625.67. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,400 shares of company stock worth $321,856. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INSW. Jefferies Financial Group reiterated a "buy" rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

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.