51,118 Shares in International Seaways, Inc. (NYSE:INSW) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 51,118 shares of the transportation company's stock, valued at approximately $1,837,000. Raymond James Financial Inc. owned about 0.10% of International Seaways at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after acquiring an additional 369,145 shares during the period. American Century Companies Inc. grew its stake in shares of International Seaways by 9.8% in the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock valued at $58,681,000 after buying an additional 146,145 shares in the last quarter. Geode Capital Management LLC lifted its position in International Seaways by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after acquiring an additional 4,769 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in International Seaways by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock worth $16,662,000 after acquiring an additional 32,953 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in International Seaways by 1.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after acquiring an additional 7,325 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Performance

International Seaways stock traded down $0.18 during mid-day trading on Wednesday, reaching $36.36. The company's stock had a trading volume of 582,416 shares, compared to its average volume of 748,197. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 3.51 and a beta of -0.01. International Seaways, Inc. has a twelve month low of $27.20 and a twelve month high of $65.94. The business has a 50 day moving average price of $33.26 and a 200-day moving average price of $37.07. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways's dividend payout ratio is presently 5.72%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in 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 reaffirmed a "buy" rating and set a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.50.

Insider Buying and Selling

In other news, SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction that occurred 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,400 shares of company stock worth $380,086 over the last quarter. 1.90% of the stock is owned by company insiders.

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.