Foundry Partners LLC Sells 1,942 Shares of International Seaways, Inc. (NYSE:INSW)

Foundry Partners LLC trimmed its holdings in International Seaways, Inc. (NYSE:INSW) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,398 shares of the transportation company’s stock after selling 1,942 shares during the quarter. Foundry Partners LLC’s holdings in International Seaways were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its position 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 buying an additional 414,610 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of International Seaways by 51.3% during the third quarter. Janus Henderson Group PLC now owns 60,107 shares of the transportation company’s stock valued at $3,098,000 after acquiring an additional 20,372 shares during the period. Stifel Financial Corp boosted its holdings in International Seaways by 37.8% in the third quarter. Stifel Financial Corp now owns 9,583 shares of the transportation company’s stock valued at $494,000 after acquiring an additional 2,627 shares during the last quarter. MML Investors Services LLC increased its position in International Seaways by 24.1% in the third quarter. MML Investors Services LLC now owns 4,970 shares of the transportation company’s stock worth $256,000 after purchasing an additional 966 shares during the period. Finally, Barclays PLC raised its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on INSW shares. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. Two research 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. According to MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $32.63, for a total transaction of $32,630.00. Following the sale, the senior vice president now owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 owns 179,557 shares of the company’s stock, valued at $6,223,445.62. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,400 shares of company stock worth $321,856. Company insiders own 1.90% of the company’s stock.

International Seaways Price Performance

International Seaways stock opened at $28.74 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 2.78 and a beta of -0.01. The business has a 50-day moving average of $35.78 and a 200-day moving average of $40.10. 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, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, March 14th. International Seaways’s payout ratio is presently 5.72%.

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.