Thrivent Financial for Lutherans Invests $1.12 Million in International Seaways, Inc. (NYSE:INSW)

Thrivent Financial for Lutherans acquired a new stake in International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,179 shares of the transportation company’s stock, valued at approximately $1,121,000. Thrivent Financial for Lutherans owned approximately 0.06% of International Seaways as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after acquiring an additional 38,871 shares during the last quarter. FMR LLC lifted its stake in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $16,662,000 after purchasing an additional 32,953 shares during the last quarter. Private Management Group Inc. boosted its position in International Seaways by 29.9% in the fourth quarter. Private Management Group Inc. now owns 382,750 shares of the transportation company’s stock valued at $13,756,000 after buying an additional 88,007 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of International Seaways by 111.5% during the fourth quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company’s stock worth $11,690,000 after buying an additional 171,498 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the transaction, the senior vice president now owns 55,852 shares in the company, valued at $1,892,824.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the sale, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,400 shares of company stock valued at $289,226. Company insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

Shares of International Seaways stock opened at $33.25 on Tuesday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 3.21 and a beta of -0.17. International Seaways, Inc. has a twelve month low of $31.70 and a twelve month high of $65.94. The company’s fifty day moving average is $36.17 and its 200 day moving average is $40.56. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. International Seaways’s dividend payout ratio (DPR) is presently 5.72%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. SEB Equity Research set a $50.00 price objective on International Seaways in a report on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

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.