Victory Capital Management Inc. Has $46.47 Million Stake in International Seaways, Inc. (NYSE:INSW)

Victory Capital Management Inc. lowered its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,021,768 shares of the transportation company's stock after selling 25,655 shares during the quarter. Victory Capital Management Inc. owned approximately 2.09% of International Seaways worth $46,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bfsg LLC purchased a new position in shares of International Seaways in the fourth quarter valued at $167,000. U S Global Investors Inc. increased its position in shares of International Seaways by 144.5% in the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company's stock valued at $192,000 after buying an additional 2,500 shares in the last quarter. Peterson Wealth Services purchased a new position in shares of International Seaways in the fourth quarter valued at $203,000. SG Americas Securities LLC purchased a new position in shares of International Seaways in the third quarter valued at $224,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of International Seaways during the fourth quarter valued at $227,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INSW shares. StockNews.com downgraded International Seaways from a "buy" rating to a "hold" rating in a report on Saturday, April 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th. Finally, Stifel Nicolaus lifted their target price on International Seaways from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, April 19th.

Insider Buying and Selling

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the transaction, the director now owns 19,098 shares of the company's stock, valued at approximately $1,013,912.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the transaction, the chief financial officer now directly owns 82,161 shares in the company, valued at approximately $4,361,927.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the sale, the director now directly owns 19,098 shares in the company, valued at approximately $1,013,912.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,846 shares of company stock valued at $3,074,618. Insiders own 2.00% of the company's stock.

International Seaways Stock Performance

INSW stock traded up $0.16 during trading on Monday, reaching $56.33. 619,686 shares of the company's stock were exchanged, compared to its average volume of 540,078. International Seaways, Inc. has a 1-year low of $34.77 and a 1-year high of $57.07. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The company's fifty day moving average price is $53.16 and its 200-day moving average price is $50.17. The firm has a market cap of $2.76 billion, a PE ratio of 5.01 and a beta of -0.05.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. On average, research analysts expect that International Seaways, Inc. will post 9.33 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 8.52%. International Seaways's dividend payout ratio (DPR) is presently 4.27%.

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.