International Seaways, Inc. (NYSE:INSW) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in International Seaways, Inc. (NYSE:INSW) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 78,100 shares of the transportation company’s stock after purchasing an additional 700 shares during the quarter. Swiss National Bank’s holdings in International Seaways were worth $2,807,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of International Seaways in the third quarter valued at approximately $620,000. Charles Schwab Investment Management Inc. increased its holdings in International Seaways by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after acquiring an additional 32,825 shares in the last quarter. FMR LLC lifted its holdings in International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares in the last quarter. Cynosure Group LLC grew its position in shares of International Seaways by 6.6% in the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after purchasing an additional 447 shares during the period. Finally, PEAK6 Investments LLC acquired a new position in shares of International Seaways during the 3rd quarter worth about $682,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on INSW shares. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price objective 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 note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

International Seaways Trading Up 1.5 %

Shares of INSW opened at $34.30 on Thursday. The firm has a 50-day moving average price of $36.51 and a 200 day moving average price of $40.94. The firm has a market capitalization of $1.69 billion, a P/E ratio of 3.31 and a beta of -0.17. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.12 dividend. 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 dividend payout ratio (DPR) is presently 5.72%.

Insider Activity at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the sale, the senior vice president now owns 50,453 shares of the company’s stock, valued at approximately $1,684,625.67. This represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the transaction, the senior vice president now owns 48,803 shares of the company’s stock, valued at $1,908,197.30. This trade represents a 2.01 % 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 worth $324,296. Company insiders own 1.90% of the company’s stock.

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.