Victory Capital Management Inc. Acquires 39,131 Shares of International Seaways, Inc. (NYSE:INSW)

Victory Capital Management Inc. lifted its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 25.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 194,426 shares of the transportation company’s stock after purchasing an additional 39,131 shares during the period. Victory Capital Management Inc. owned 0.40% of International Seaways worth $6,988,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after acquiring an additional 38,871 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in International Seaways in the third quarter valued at about $2,161,000. Charles Schwab Investment Management Inc. boosted its holdings in International Seaways by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock valued at $22,205,000 after acquiring an additional 32,825 shares during the last quarter. Barclays PLC boosted its holdings in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after acquiring an additional 174,695 shares during the last quarter. Finally, FMR LLC lifted its stake in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after buying an additional 414,610 shares during the period. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the 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 directly owns 48,803 shares in the company, valued at approximately $1,908,197.30. This trade represents a 2.01 % 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 this link. Also, 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 value 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. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,400 shares of company stock worth $254,976. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on INSW shares. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 target price on International Seaways in a research note on Friday, January 24th. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Stock Performance

Shares of NYSE INSW opened at $33.57 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock’s fifty day moving average price is $37.33 and its two-hundred day moving average price is $42.02. International Seaways, Inc. has a one year low of $31.70 and a one year high of $65.94. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 3.24 and a beta of -0.17.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. International Seaways’s payout ratio is 5.72%.

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.