HighTower Advisors LLC Buys 1,249 Shares of International Seaways, Inc. (NYSE:INSW)

HighTower Advisors LLC lifted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,878 shares of the transportation company’s stock after purchasing an additional 1,249 shares during the period. HighTower Advisors LLC owned approximately 0.05% of International Seaways worth $966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC bought a new position in International Seaways in the 3rd quarter valued at $620,000. 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. FMR LLC increased its position in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the period. Cynosure Group LLC raised its holdings in International Seaways by 6.6% during the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock worth $370,000 after purchasing an additional 447 shares during the last quarter. Finally, PEAK6 Investments LLC acquired a new position in International Seaways during the 3rd quarter valued at about $682,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Up 1.5 %

Shares of NYSE INSW opened at $34.30 on Thursday. The firm has a 50 day moving average price of $36.51 and a 200 day moving average price of $40.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market cap of $1.69 billion, a P/E ratio of 3.31 and a beta of -0.17. International Seaways, Inc. has a 52-week low of $31.70 and a 52-week high of $65.94.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, March 14th. International Seaways’s payout ratio is presently 5.72%.

Analyst Upgrades and Downgrades

INSW has been the subject of several analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th. Two research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares of the company’s stock, valued at approximately $6,223,445.62. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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. Over the last ninety days, insiders have sold 9,400 shares of company stock worth $324,296. Corporate insiders own 1.90% of the company’s stock.

About International Seaways

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.