JPMorgan Chase & Co. Has $14.60 Million Stock Holdings in International Seaways, Inc. (NYSE:INSW)

JPMorgan Chase & Co. grew its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,197 shares of the transportation company's stock after acquiring an additional 10,142 shares during the quarter. JPMorgan Chase & Co. owned about 0.83% of International Seaways worth $14,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in shares of International Seaways during the 4th quarter worth about $37,000. Sunbelt Securities Inc. acquired a new position in International Seaways during the third quarter valued at approximately $52,000. R Squared Ltd purchased a new stake in International Seaways during the fourth quarter worth approximately $59,000. KBC Group NV increased its position in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after acquiring an additional 653 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of International Seaways in the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Price Performance

Shares of NYSE:INSW traded up $1.17 during trading on Thursday, reaching $33.11. The company had a trading volume of 109,418 shares, compared to its average volume of 737,918. The firm has a market capitalization of $1.63 billion, a PE ratio of 3.18 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a twelve month low of $27.20 and a twelve month high of $65.94. The firm's fifty day moving average is $34.30 and its 200 day moving average is $38.88.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, March 14th. International Seaways's dividend payout ratio (DPR) is presently 5.72%.

Analysts Set New Price Targets

A number of equities analysts have commented on INSW shares. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $58.00 price objective on shares of International Seaways in a report on Thursday, February 27th. Two 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.50.

Insider Buying and Selling at International Seaways

In other news, 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 transaction of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares of the company's stock, valued at $1,684,625.67. This trade represents a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares in the company, valued at $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. In the last three months, insiders sold 11,400 shares of company stock valued at $385,176. 1.90% of the stock is owned by insiders.

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.