Catalyst Funds Management Pty Ltd Buys 42,800 Shares of International Seaways, Inc. (NYSE:INSW)

Catalyst Funds Management Pty Ltd boosted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 21,400.0% during the fourth quarter, Holdings Channel reports. The firm owned 43,000 shares of the transportation company’s stock after purchasing an additional 42,800 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in International Seaways were worth $1,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSW. Larson Financial Group LLC bought a new position in International Seaways during the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. purchased a new stake in International Seaways during the third quarter valued at approximately $52,000. KBC Group NV increased its holdings 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 buying an additional 428 shares during the last quarter. R Squared Ltd purchased a new stake in International Seaways during the fourth quarter valued at approximately $59,000. Finally, Venturi Wealth Management LLC purchased a new stake in International Seaways during the fourth quarter valued at approximately $69,000. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INSW. SEB Equity Research set a $50.00 target price on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the transaction, the senior vice president now directly owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Derek G. Solon sold 4,400 shares of the firm’s 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 transaction, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,400 shares of company stock valued at $254,976 over the last three months. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

Shares of NYSE INSW opened at $33.57 on Friday. The firm has a fifty day moving average price of $37.33 and a 200-day moving average price of $42.02. 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 cap of $1.65 billion, a PE ratio of 3.24 and a beta of -0.17. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 1.43%. International Seaways’s dividend payout ratio (DPR) is presently 5.72%.

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.