KLP Kapitalforvaltning AS Invests $755,000 in International Seaways, Inc. (NYSE:INSW)

KLP Kapitalforvaltning AS acquired a new stake in International Seaways, Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,000 shares of the transportation company’s stock, valued at approximately $755,000.

Several other large investors have also bought and sold shares of the company. Bfsg LLC grew its position in International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock worth $99,000 after buying an additional 357 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of International Seaways by 3.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock worth $375,000 after purchasing an additional 360 shares during the period. Franklin Resources Inc. lifted its holdings in shares of International Seaways by 0.8% during the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 379 shares during the last quarter. DMC Group LLC boosted its position in shares of 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 purchasing an additional 540 shares during the period. Finally, KBC Group NV increased its stake in International Seaways by 60.2% in 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 in the last quarter. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of several recent analyst reports. SEB Equity Research set a $50.00 target price on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price objective on shares of International Seaways in a research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’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 directly owns 179,557 shares of the company’s stock, valued at $6,223,445.62. The trade was a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction on Thursday, March 13th. The shares were 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 directly owns 50,453 shares of the company’s stock, valued at approximately $1,684,625.67. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,400 shares of company stock valued at $289,226. Insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

Shares of INSW opened at $33.29 on Wednesday. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market capitalization of $1.64 billion, a PE ratio of 3.22 and a beta of -0.17. The company’s 50 day moving average price is $36.10 and its 200 day moving average price is $40.44.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. International Seaways’s dividend 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.