Rhumbline Advisers Increases Holdings in International Seaways, Inc. (NYSE:INSW)

Rhumbline Advisers grew its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 83.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 119,903 shares of the transportation company’s stock after purchasing an additional 54,395 shares during the period. Rhumbline Advisers’ holdings in International Seaways were worth $4,309,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. purchased a new stake in International Seaways during the 3rd quarter worth about $41,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways in the 3rd quarter valued at about $52,000. KBC Group NV lifted its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the last quarter. R Squared Ltd purchased a new stake in shares of International Seaways in the 4th quarter valued at about $59,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of International Seaways in the 3rd quarter valued at about $240,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

INSW has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday. SEB Equity Research set a $50.00 price target on International Seaways in a research report on Friday, January 24th. Two research 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. Based on data from MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and an average price target of $57.50.

International Seaways Trading Down 1.4 %

NYSE:INSW opened at $33.29 on Friday. The business’s 50-day moving average is $37.70 and its two-hundred day moving average is $43.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The firm has a market capitalization of $1.64 billion, a PE ratio of 3.22 and a beta of -0.11.

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 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, March 14th. International Seaways’s payout ratio is 4.64%.

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.