KLP Kapitalforvaltning AS Invests $755,000 in International Seaways, Inc. (NYSE:INSW)

KLP Kapitalforvaltning AS acquired a new stake in International Seaways, Inc. (NYSE:INSW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,000 shares of the transportation company's stock, valued at approximately $755,000.

Several other large investors also recently added to or reduced their stakes in INSW. Bfsg LLC increased its stake in shares of International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock valued at $99,000 after buying an additional 357 shares during the period. Farther Finance Advisors LLC increased its position in International Seaways by 3.6% during the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock valued at $375,000 after purchasing an additional 360 shares during the period. Franklin Resources Inc. increased its position in International Seaways by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock valued at $2,428,000 after purchasing an additional 379 shares during the period. DMC Group LLC raised its holdings 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 valued at $215,000 after purchasing an additional 540 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after purchasing an additional 653 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Price Performance

INSW stock traded down $2.30 during mid-day trading on Friday, reaching $28.74. 1,696,292 shares of the company's stock were exchanged, compared to its average volume of 722,887. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 2.78 and a beta of -0.01. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.94. The stock's 50 day moving average is $35.78 and its 200 day moving average is $40.03. 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 business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Friday, March 14th. International Seaways's dividend payout ratio is presently 5.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INSW. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note 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 report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, International Seaways has an average rating of "Moderate Buy" and an average price target of $57.50.

Insider Buying and Selling

In other International Seaways news, 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 owns 50,453 shares in the company, valued at approximately $1,684,625.67. This represents a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the business'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 value of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,400 shares of company stock worth $321,856. Insiders own 1.90% of the company's stock.

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.