International Seaways, Inc. (NYSE:INSW) Stake Boosted by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in International Seaways, Inc. (NYSE:INSW) by 3.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,444 shares of the transportation company’s stock after purchasing an additional 360 shares during the period. Farther Finance Advisors LLC’s holdings in International Seaways were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after buying an additional 38,871 shares during the period. Kingsview Wealth Management LLC acquired a new stake in International Seaways in the third quarter worth $2,161,000. Charles Schwab Investment Management Inc. increased its position in International Seaways by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after buying an additional 32,825 shares during the period. Barclays PLC increased its position in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after buying an additional 174,695 shares during the period. Finally, FMR LLC increased its position in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after buying an additional 414,610 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Price Performance

Shares of INSW opened at $34.55 on Tuesday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 3.34 and a beta of -0.17. 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, Inc. has a one year low of $31.70 and a one year high of $65.94. The stock’s fifty day moving average is $37.28 and its 200-day moving average is $41.66.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is currently 5.72%.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares in the company, valued at approximately $1,892,824.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the business’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 approximately $1,684,625.67. This trade represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,400 shares of company stock worth $254,976. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSW. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.