Raymond James Financial Inc. Purchases Shares of 51,118 International Seaways, Inc. (NYSE:INSW)

Raymond James Financial Inc. bought a new position in International Seaways, Inc. (NYSE:INSW - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 51,118 shares of the transportation company's stock, valued at approximately $1,837,000. Raymond James Financial Inc. owned 0.10% of International Seaways at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after acquiring an additional 414,610 shares in the last quarter. Empowered Funds LLC raised its position in shares of International Seaways by 470.8% in the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock worth $9,813,000 after purchasing an additional 225,196 shares during the last quarter. Principal Financial Group Inc. boosted its stake in International Seaways by 685.6% in the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock worth $8,070,000 after purchasing an additional 195,961 shares in the last quarter. Barclays PLC grew its position in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after purchasing an additional 174,695 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in International Seaways by 111.5% during the 4th quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company's stock valued at $11,690,000 after purchasing an additional 171,498 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

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International Seaways Stock Performance

Shares of INSW traded down $2.30 during trading hours on Friday, hitting $28.74. The stock had a trading volume of 1,696,292 shares, compared to its average volume of 722,887. The firm has a market capitalization of $1.41 billion, a PE ratio of 2.78 and a beta of -0.01. 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, Inc. has a 12 month low of $27.20 and a 12 month high of $65.94. The stock has a fifty day moving average price of $35.78 and a 200 day moving average price of $40.10.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.67%. International Seaways's dividend payout ratio (DPR) is 5.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INSW shares. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group restated a "buy" rating and issued a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. Two investment 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 stock. According to data from MarketBeat.com, International Seaways has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

Insider Buying and Selling at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business'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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the firm'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 transaction of $39,100.00. Following 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. Over the last ninety days, insiders sold 9,400 shares of company stock valued at $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.