Loomis Sayles & Co. L P Buys 7,325 Shares of International Seaways, Inc. (NYSE:INSW)

Loomis Sayles & Co. L P lifted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 429,889 shares of the transportation company’s stock after purchasing an additional 7,325 shares during the quarter. Loomis Sayles & Co. L P’s holdings in International Seaways were worth $15,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INSW. Larson Financial Group LLC acquired a new stake in International Seaways in the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. bought a new position in shares of International Seaways in the 3rd quarter valued at $52,000. R Squared Ltd acquired a new stake in shares of International Seaways during the 4th quarter valued at $59,000. KBC Group NV grew its position in International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after acquiring an additional 653 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in International Seaways in the 4th quarter worth about $69,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INSW. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction 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. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,400 shares of company stock worth $324,296. 1.90% of the stock is currently owned by insiders.

International Seaways Trading Up 0.9 %

Shares of INSW stock opened at $33.16 on Friday. International Seaways, Inc. has a 1-year low of $31.70 and a 1-year 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. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 3.20 and a beta of -0.17. The stock has a 50-day moving average of $36.28 and a 200-day moving average of $40.77.

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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, March 14th. International Seaways’s dividend payout ratio is presently 5.72%.

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.