Vanguard Group Inc. Raises Position in International Seaways, Inc. (NYSE:INSW)

Vanguard Group Inc. raised its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,759,119 shares of the transportation company's stock after acquiring an additional 369,145 shares during the quarter. Vanguard Group Inc. owned approximately 9.67% of International Seaways worth $171,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in International Seaways in the 3rd quarter valued at about $52,000. Larson Financial Group LLC purchased a new stake in shares of International Seaways during the fourth quarter worth about $37,000. R Squared Ltd acquired a new position in shares of International Seaways in the fourth quarter valued at approximately $59,000. KBC Group NV raised its position in shares of 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 buying an additional 653 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of International Seaways during the fourth quarter valued at approximately $69,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Trading Up 8.7 %

INSW stock traded up $2.66 on Friday, hitting $33.31. 924,586 shares of the company were exchanged, compared to its average volume of 734,572. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 3.22 and a beta of -0.01. International Seaways, Inc. has a twelve month low of $27.20 and a twelve month high of $65.94. The business's fifty day moving average is $34.78 and its two-hundred day moving average is $39.21.

Remove Ads

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued 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 1.44%. International Seaways's payout ratio is 5.72%.

Wall Street Analysts Forecast Growth

INSW has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Seaways currently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $32.63, for a total transaction of $32,630.00. Following the completion of the sale, the senior vice president now owns 56,846 shares in the company, valued at approximately $1,854,884.98. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were 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 owns 179,557 shares in the company, valued at $6,223,445.62. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,400 shares of company stock valued at $321,856. 1.90% of the stock is currently owned by company insiders.

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.