Charles Schwab Investment Management Inc. Purchases 32,953 Shares of International Seaways, Inc. (NYSE:INSW)

Charles Schwab Investment Management Inc. raised its position in shares of International Seaways, Inc. (NYSE:INSW) by 7.7% in the fourth quarter, Holdings Channel reports. The fund owned 463,611 shares of the transportation company’s stock after buying an additional 32,953 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in International Seaways were worth $16,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in INSW. Bfsg LLC raised its stake in International Seaways by 14.9% during the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after purchasing an additional 357 shares during the last quarter. Franklin Resources Inc. grew its position in International Seaways by 0.8% during the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock worth $2,428,000 after buying an additional 379 shares in the last quarter. KBC Group NV increased its stake in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 428 shares during the period. Cynosure Group LLC increased its stake in International Seaways by 6.6% during the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after acquiring an additional 447 shares during the period. Finally, DMC Group LLC raised its holdings in International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock valued at $215,000 after acquiring an additional 540 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in 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 reissued a “buy” rating and issued 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and an average target price of $57.50.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $6,223,445.62. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were 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 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 disclosure for this sale can be found here. Insiders sold 9,400 shares of company stock worth $324,296 in the last quarter. 1.90% of the stock is owned by corporate insiders.

International Seaways Stock Performance

Shares of NYSE:INSW opened at $35.29 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The business’s fifty day moving average price is $37.08 and its two-hundred day moving average price is $41.45. International Seaways, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $65.94. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 3.41 and a beta of -0.17.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

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.