TrueMark Investments LLC Has $5.49 Million Stake in International Seaways, Inc. (NYSE:INSW)

TrueMark Investments LLC grew its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 69.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,698 shares of the transportation company's stock after buying an additional 62,387 shares during the quarter. International Seaways accounts for 1.8% of TrueMark Investments LLC's portfolio, making the stock its 10th largest position. TrueMark Investments LLC owned about 0.31% of International Seaways worth $5,488,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC lifted its holdings in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after purchasing an additional 414,610 shares in the last quarter. Vanguard Group Inc. grew its holdings in International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after purchasing an additional 369,145 shares during the last quarter. Empowered Funds LLC increased its stake in International Seaways by 470.8% in the fourth 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 period. Principal Financial Group Inc. increased 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 worth $8,070,000 after purchasing an additional 195,961 shares during the period. Finally, Barclays PLC boosted its stake in shares of International Seaways by 206.3% during the third 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 in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

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Insider Activity at International Seaways

In related news, SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the sale, the senior vice president now directly owns 50,453 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares of the company's stock, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,400 shares of company stock worth $324,296. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

INSW has been the subject of several research analyst reports. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reaffirmed a "buy" rating and set a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. Two research 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

International Seaways Stock Performance

Shares of International Seaways stock traded up $0.29 during trading hours on Friday, hitting $33.16. 491,479 shares of the company were exchanged, compared to its average volume of 713,316. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94. 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 business has a 50-day moving average of $36.28 and a 200-day moving average of $40.72. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 3.20 and a beta of -0.17.

International Seaways Cuts Dividend

The business 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 was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. International Seaways's dividend payout ratio 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.