International Seaways, Inc. (NYSE:INSW) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,444 shares of the transportation company’s stock after purchasing an additional 360 shares during the quarter. Farther Finance Advisors LLC’s holdings in International Seaways were worth $375,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in International Seaways during the 3rd quarter worth approximately $52,000. Larson Financial Group LLC purchased a new position in International Seaways in the 4th quarter worth approximately $37,000. KBC Group NV boosted its holdings in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the period. R Squared Ltd purchased a new position in International Seaways in the 4th quarter worth approximately $59,000. Finally, Venturi Wealth Management LLC purchased a new position in International Seaways in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares in the company, valued at $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. In the last three months, insiders sold 7,400 shares of company stock worth $254,976. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on International Seaways in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Stock Performance

International Seaways stock opened at $34.55 on Tuesday. The stock has a market cap of $1.70 billion, a P/E ratio of 3.34 and a beta of -0.17. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $37.28 and a 200-day moving average of $41.66. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is currently 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.