Sei Investments Co. Increases Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Sei Investments Co. grew its stake in International Seaways, Inc. (NYSE:INSW) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,933 shares of the transportation company’s stock after purchasing an additional 6,420 shares during the period. Sei Investments Co.’s holdings in International Seaways were worth $2,370,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INSW. Bfsg LLC increased its stake in International Seaways by 14.9% in the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after buying an additional 357 shares during the period. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 360 shares during the period. Franklin Resources Inc. raised its holdings 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 purchasing an additional 379 shares in the last quarter. DMC Group LLC lifted its position in International Seaways by 9.9% in the fourth 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 boosted its holdings in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

INSW opened at $28.74 on Friday. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The stock has a market cap of $1.41 billion, a P/E ratio of 2.78 and a beta of -0.01. The stock’s 50 day simple moving average is $35.78 and its 200 day simple moving average is $40.17. 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 company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways’s dividend payout ratio is currently 5.72%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INSW shares. SEB Equity Research set a $50.00 target price on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 price objective 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company’s stock, valued at approximately $1,854,884.98. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction dated 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 transaction, 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. Insiders sold 9,400 shares of company stock valued at $321,856 in the last 90 days. 1.90% of the stock is currently owned by insiders.

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.