Winmill & CO. Inc. Makes New Investment in International Seaways, Inc. (NYSE:INSW)

Winmill & CO. Inc. acquired a new stake in shares of International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 175,600 shares of the transportation company’s stock, valued at approximately $6,311,000. International Seaways makes up approximately 2.0% of Winmill & CO. Inc.’s portfolio, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSW. Larson Financial Group LLC acquired a new stake in shares of International Seaways during the fourth quarter worth about $37,000. Sunbelt Securities Inc. acquired a new stake in shares of International Seaways in the third quarter worth $52,000. R Squared Ltd purchased a new position in shares of International Seaways during the fourth quarter worth $59,000. KBC Group NV boosted its holdings in International Seaways by 60.2% in the fourth 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 during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in International Seaways during the 4th quarter worth about $69,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This represents a 1.73 % decrease in their position. The transaction was disclosed in a 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 that occurred 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 sale, the senior vice president now directly owns 50,453 shares in the company, 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. In the last three months, insiders sold 9,400 shares of company stock worth $321,856. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INSW shares. 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. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Two research 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.com, International Seaways presently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

International Seaways Stock Performance

INSW opened at $28.74 on Monday. The firm’s fifty day simple moving average is $35.78 and its two-hundred day simple moving average is $40.03. International Seaways, Inc. has a 52-week low of $26.24 and a 52-week high of $65.94. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 2.78 and a beta of -0.01. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways’s payout ratio is 5.72%.

About International Seaways

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.