Keeley Teton Advisors LLC Trims Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Keeley Teton Advisors LLC decreased its holdings in International Seaways, Inc. (NYSE:INSW) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 67,853 shares of the transportation company’s stock after selling 3,193 shares during the period. Keeley Teton Advisors LLC’s holdings in International Seaways were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of International Seaways during the fourth quarter worth about $37,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the third quarter worth approximately $52,000. R Squared Ltd purchased a new position in International Seaways in the 4th quarter valued at $59,000. KBC Group NV increased its stake in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after buying an additional 653 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of International Seaways in the 4th quarter worth $69,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on INSW shares. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price target 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Insider Buying and Selling at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the 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 completion of the sale, the senior vice president now owns 55,852 shares of the company’s stock, valued at $1,892,824.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,400 shares of company stock worth $321,856 in the last 90 days. 1.90% of the stock is owned by company insiders.

International Seaways Stock Performance

INSW opened at $32.37 on Tuesday. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The stock has a market cap of $1.59 billion, a P/E ratio of 3.13 and a beta of -0.01. The stock’s 50 day simple moving average is $34.62 and its 200 day simple moving average is $38.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. International Seaways’s dividend payout ratio is currently 5.72%.

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.