Quantbot Technologies LP Grows Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Quantbot Technologies LP increased its position in shares of International Seaways, Inc. (NYSE:INSW) by 225.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,645 shares of the transportation company’s stock after purchasing an additional 22,624 shares during the period. Quantbot Technologies LP’s holdings in International Seaways were worth $1,173,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of INSW. Bfsg LLC boosted its position in shares of 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 in the last quarter. Farther Finance Advisors LLC lifted its stake in International Seaways by 3.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock worth $375,000 after purchasing an additional 360 shares during the last quarter. Franklin Resources Inc. boosted its holdings in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 379 shares in the last quarter. Cynosure Group LLC increased its stake 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 purchasing an additional 447 shares during the last quarter. Finally, DMC Group LLC raised its holdings in International Seaways by 9.9% during the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock worth $215,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSW. Jefferies Financial Group restated a “buy” rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Stock Performance

Shares of INSW opened at $33.85 on Wednesday. The company’s 50 day simple moving average is $36.66 and its 200-day simple moving average is $40.98. The firm has a market cap of $1.67 billion, a PE ratio of 3.27 and a beta of -0.17. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94. 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 will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, March 14th. International Seaways’s payout ratio is currently 5.72%.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on 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 directly owns 48,803 shares in the company, valued at approximately $1,908,197.30. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,400 shares of company stock worth $324,296. 1.90% of the stock is owned by company insiders.

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.