Thrivent Financial for Lutherans Invests $1.12 Million in International Seaways, Inc. (NYSE:INSW)

Thrivent Financial for Lutherans purchased a new stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,179 shares of the transportation company's stock, valued at approximately $1,121,000. Thrivent Financial for Lutherans owned approximately 0.06% of International Seaways as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of INSW. FMR LLC increased its stake in International Seaways by 221.0% during 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 during the last quarter. Empowered Funds LLC increased 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 valued at $9,813,000 after purchasing an additional 225,196 shares during the last quarter. Principal Financial Group Inc. raised its holdings in International Seaways by 685.6% during the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock valued at $8,070,000 after buying an additional 195,961 shares during the period. Barclays PLC lifted its position in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after buying an additional 174,695 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in International Seaways by 111.5% during the fourth quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company's stock worth $11,690,000 after buying an additional 171,498 shares during the period. Institutional investors own 67.29% of the company's stock.

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International Seaways Trading Down 7.4 %

Shares of International Seaways stock traded down $2.30 on Friday, hitting $28.74. 1,696,292 shares of the company traded hands, compared to its average volume of 722,887. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.41 billion, a PE ratio of 2.78 and a beta of -0.01. The stock's 50 day moving average price is $35.78 and its 200-day moving average price is $40.10. International Seaways, Inc. has a 52 week low of $27.20 and a 52 week high of $65.94.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.12 per share. 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 1.67%. International Seaways's dividend payout ratio is presently 5.72%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. SEB Equity Research set a $50.00 target price 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 objective 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.50.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm'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 directly owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the transaction, the chief executive officer now owns 179,557 shares in the company, valued at approximately $6,223,445.62. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,400 shares of company stock valued at $321,856 over the last ninety days. 1.90% of the stock is owned by company insiders.

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.