SBI Securities Co. Ltd. Takes Position in International Seaways, Inc. (NYSE:INSW)

SBI Securities Co. Ltd. purchased a new position in shares of International Seaways, Inc. (NYSE:INSW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,270 shares of the transportation company’s stock, valued at approximately $82,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSW. Sunbelt Securities Inc. purchased a new position in shares of International Seaways in the 3rd quarter valued at $52,000. KBC Group NV grew its stake in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares in the last quarter. R Squared Ltd acquired a new position in International Seaways during the 4th quarter worth $59,000. Venturi Wealth Management LLC acquired a new position in International Seaways in the fourth quarter worth about $69,000. Finally, Bfsg LLC lifted its stake in International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock worth $99,000 after purchasing an additional 357 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 3,000 shares of company stock valued at $108,060 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

Shares of INSW opened at $35.13 on Monday. 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 stock has a market capitalization of $1.73 billion, a P/E ratio of 3.39 and a beta of -0.17. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94. The firm’s 50 day moving average is $37.54 and its 200-day moving average is $42.39.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. International Seaways’s dividend payout ratio is currently 5.72%.

Wall Street Analysts Forecast Growth

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

International Seaways Company 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.