Rhumbline Advisers Acquires 54,395 Shares of International Seaways, Inc. (NYSE:INSW)

Rhumbline Advisers increased its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 83.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 119,903 shares of the transportation company's stock after acquiring an additional 54,395 shares during the period. Rhumbline Advisers owned 0.24% of International Seaways worth $4,309,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in 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 acquiring an additional 414,610 shares during the last quarter. Empowered Funds LLC lifted its position in shares of International Seaways by 470.8% during 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. Barclays PLC boosted its stake 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 period. Hotchkis & Wiley Capital Management LLC acquired a new stake in International Seaways in the 3rd quarter valued at approximately $6,168,000. Finally, Nisa Investment Advisors LLC increased its position in International Seaways by 1,677.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock worth $3,987,000 after buying an additional 104,704 shares during the period. 67.29% of the stock is owned by institutional investors.

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International Seaways Price Performance

Shares of NYSE:INSW traded up $1.57 during midday trading on Tuesday, reaching $34.52. 850,457 shares of the company's stock were exchanged, compared to its average volume of 671,387. The firm has a market capitalization of $1.70 billion, a PE ratio of 3.33 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 12 month low of $31.72 and a 12 month high of $65.94. The company's 50 day simple moving average is $37.70 and its two-hundred day simple moving average is $42.84.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. International Seaways's dividend payout ratio (DPR) is presently 5.72%.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the company'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 sale, the senior vice president now owns 48,803 shares of the company's stock, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 3,000 shares of company stock worth $108,060. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports 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 restated a "buy" rating and issued a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, International Seaways presently has an average rating of "Moderate Buy" and an average target price of $57.50.

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.