13,075 Shares in International Seaways, Inc. (NYSE:INSW) Bought by LPL Financial LLC

LPL Financial LLC bought a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,075 shares of the transportation company's stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bfsg LLC lifted its position in 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 acquiring an additional 357 shares during the last quarter. Farther Finance Advisors LLC lifted its position in International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock valued at $375,000 after acquiring an additional 360 shares during the last quarter. Franklin Resources Inc. lifted its position in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock valued at $2,428,000 after acquiring an additional 379 shares during the last quarter. DMC Group LLC lifted its position in International Seaways by 9.9% in the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock valued at $215,000 after acquiring an additional 540 shares during the last quarter. Finally, KBC Group NV lifted its position in International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after acquiring an additional 653 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INSW. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. Two 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. According to MarketBeat, International Seaways presently has an average rating of "Moderate Buy" and an average target price of $57.50.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares in the company, valued at $1,892,824.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction that occurred on 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 trade represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,400 shares of company stock worth $385,176 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

International Seaways Stock Performance

INSW traded down $0.12 during trading on Monday, reaching $33.82. The company's stock had a trading volume of 701,784 shares, compared to its average volume of 743,843. 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 company's fifty day moving average price is $33.35 and its 200-day moving average price is $37.59. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.94. The company 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 firm 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. International Seaways's dividend payout ratio (DPR) is presently 5.72%.

International Seaways 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.