International Seaways, Inc. (NYSE:INSW) Shares Acquired by Versor Investments LP

Versor Investments LP increased its stake in shares of International Seaways, Inc. (NYSE:INSW) by 51.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,990 shares of the transportation company’s stock after buying an additional 3,038 shares during the quarter. Versor Investments LP’s holdings in International Seaways were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Bfsg LLC lifted its position in International Seaways by 14.9% during the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock worth $99,000 after acquiring an additional 357 shares during the period. Franklin Resources Inc. raised its stake in shares of International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock worth $2,428,000 after purchasing an additional 379 shares during the last quarter. KBC Group NV lifted its holdings in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares during the period. Cynosure Group LLC boosted its position in International Seaways by 6.6% in the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after buying an additional 447 shares during the last quarter. Finally, DMC Group LLC boosted its position in International Seaways by 9.9% in the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock valued at $215,000 after buying an additional 540 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Down 1.2 %

Shares of INSW stock opened at $32.93 on Tuesday. International Seaways, Inc. has a twelve month low of $31.86 and a twelve month high of $65.94. The stock has a market cap of $1.62 billion, a P/E ratio of 3.18 and a beta of -0.11. The stock has a 50 day moving average of $37.72 and a 200 day moving average of $42.96. 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is 5.72%.

Wall Street Analysts Forecast Growth

INSW has been the subject of several research reports. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the transaction, the senior vice president now owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 3,000 shares of company stock worth $108,060 in the last three months. Company insiders own 1.90% of the company’s stock.

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.