HighTower Advisors LLC Acquires 1,249 Shares of International Seaways, Inc. (NYSE:INSW)

HighTower Advisors LLC boosted its holdings in International Seaways, Inc. (NYSE:INSW) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,878 shares of the transportation company’s stock after purchasing an additional 1,249 shares during the period. HighTower Advisors LLC’s holdings in International Seaways were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in shares of International Seaways during the 4th quarter worth about $37,000. Sunbelt Securities Inc. acquired a new position in International Seaways during the third quarter valued at approximately $52,000. R Squared Ltd bought a new position in International Seaways in the fourth quarter valued at approximately $59,000. KBC Group NV increased its position in shares of 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 purchasing an additional 653 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of International Seaways during the 4th quarter worth approximately $69,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Trading Up 1.5 %

INSW stock opened at $34.30 on Thursday. International Seaways, Inc. has a one year low of $31.70 and a one year high of $65.94. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 3.31 and a beta of -0.17. The company has a fifty day moving average price of $36.51 and a two-hundred day moving average price of $40.94. 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 Cuts Dividend

The business 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 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Analyst Upgrades and Downgrades

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

Insider Activity at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now owns 49,803 shares in the company, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares of the company’s stock, valued at approximately $6,223,445.62. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,400 shares of company stock worth $324,296. 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.