Victory Capital Management Inc. Boosts Stake in International Seaways, Inc. (NYSE:INSW)

Victory Capital Management Inc. raised its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,426 shares of the transportation company's stock after buying an additional 39,131 shares during the period. Victory Capital Management Inc. owned 0.40% of International Seaways worth $6,988,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of 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 purchasing an additional 414,610 shares during the period. Empowered Funds LLC lifted its holdings in shares of International Seaways by 470.8% during 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. lifted its holdings in shares of International Seaways by 685.6% during the fourth 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. Barclays PLC lifted its holdings 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 worth $13,374,000 after purchasing an additional 174,695 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 purchasing an additional 171,498 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

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International Seaways Stock Down 0.7 %

INSW traded down $0.25 during midday trading on Tuesday, hitting $34.31. The company had a trading volume of 550,431 shares, compared to its average volume of 680,645. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 3.31 and a beta of -0.17. The stock's 50 day moving average price is $37.28 and its 200 day moving average price is $41.66.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways's payout ratio is presently 5.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INSW shares. Jefferies Financial Group restated a "buy" rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 target price on shares of International Seaways in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.50.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the sale, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the sale, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,400 shares of company stock worth $254,976 in the last quarter. Insiders own 1.90% of the company's stock.

About International Seaways

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.