LPL Financial LLC Makes New $470,000 Investment in International Seaways, Inc. (NYSE:INSW)

LPL Financial LLC bought a new position in International Seaways, Inc. (NYSE:INSW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,075 shares of the transportation company's stock, valued at approximately $470,000.

A number of other large investors have also made changes to their positions in INSW. Larson Financial Group LLC bought a new position in shares of International Seaways in the fourth quarter worth approximately $37,000. R Squared Ltd bought a new position in International Seaways in the 4th quarter worth $59,000. KBC Group NV increased its stake in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after buying an additional 653 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in International Seaways during the fourth quarter valued at about $69,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of International Seaways in the fourth quarter worth about $82,000. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were 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 approximately $1,684,625.67. This represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 11,400 shares of company stock valued at $385,176 in the last three months. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

INSW has been the topic of a number of research analyst reports. SEB Equity Research set a $50.00 price target on 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 research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Seaways currently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

International Seaways Price Performance

Shares of NYSE INSW traded up $0.32 during mid-day trading on Thursday, hitting $34.28. 109,067 shares of the company's stock traded hands, compared to its average volume of 877,654. The company's 50-day moving average is $33.24 and its two-hundred day moving average is $37.55. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94. The company has a market capitalization of $1.69 billion, a P/E ratio of 3.31 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. International Seaways's payout ratio is 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.