Thrivent Financial for Lutherans Takes Position in International Seaways, Inc. (NYSE:INSW)

Thrivent Financial for Lutherans bought a new stake in shares of International Seaways, Inc. (NYSE:INSW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 31,179 shares of the transportation company’s stock, valued at approximately $1,121,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC acquired a new position in shares of International Seaways during the fourth quarter valued at about $37,000. Sunbelt Securities Inc. acquired a new stake in shares of International Seaways in the 3rd quarter valued at about $52,000. R Squared Ltd bought a new stake in International Seaways in the 4th quarter valued at about $59,000. KBC Group NV raised its stake in International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after buying an additional 653 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in International Seaways in the fourth quarter worth approximately $69,000. 67.29% of the stock is owned by institutional investors.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the sale, the chief executive officer now owns 179,557 shares in the company, valued at approximately $6,223,445.62. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the transaction, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at approximately $1,892,824.28. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,400 shares of company stock worth $289,226. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. SEB Equity Research set a $50.00 price objective on International Seaways in a report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and set a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. 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 stock. According to data from MarketBeat, International Seaways has an average rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Stock Performance

Shares of INSW opened at $33.25 on Tuesday. The firm has a market capitalization of $1.64 billion, a P/E ratio of 3.21 and a beta of -0.17. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The stock has a 50 day moving average price of $36.17 and a two-hundred day moving average price of $40.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, March 14th. International Seaways’s payout ratio is currently 5.72%.

International Seaways Company 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.