Alliancebernstein L.P. Increases Stake in International Seaways, Inc. (NYSE:INSW)

Alliancebernstein L.P. increased its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,196 shares of the transportation company's stock after purchasing an additional 10,668 shares during the quarter. Alliancebernstein L.P. owned 0.19% of International Seaways worth $3,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in INSW. Vanguard Group Inc. increased its holdings in shares of International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after buying an additional 369,145 shares during the period. American Century Companies Inc. increased its stake in International Seaways by 9.8% in the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock worth $58,681,000 after purchasing an additional 146,145 shares during the period. Geode Capital Management LLC boosted its stake in shares of International Seaways by 4.3% during the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after purchasing an additional 38,871 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Seaways by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock worth $16,662,000 after buying an additional 32,953 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in International Seaways by 1.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after buying an additional 7,325 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

International Seaways Trading Up 4.3 %

International Seaways stock traded up $1.37 during mid-day trading on Friday, reaching $33.31. 581,436 shares of the company traded hands, compared to its average volume of 743,345. The firm's 50 day moving average price is $34.05 and its 200 day moving average price is $38.53. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.94. 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 firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 3.22 and a beta of -0.01.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways's payout ratio is currently 5.72%.

Insiders Place Their Bets

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total value of $63,320.00. Following the sale, the chief executive officer now directly owns 198,771 shares of the company's stock, valued at $6,293,089.86. This represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the transaction, the senior vice president now directly owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,400 shares of company stock worth $385,176 over the last three months. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INSW shares. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reissued a "buy" rating and issued a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Seaways currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

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.