International Seaways (NYSE:INSW) Reaches New 12-Month Low – What’s Next?

Shares of International Seaways, Inc. (NYSE:INSW) reached a new 52-week low during trading on Monday . The company traded as low as $31.86 and last traded at $33.31, with a volume of 690779 shares trading hands. The stock had previously closed at $33.33.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INSW shares. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and set a $58.00 price objective on shares of International Seaways in a research report on Thursday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market cap of $1.62 billion, a P/E ratio of 3.18 and a beta of -0.11. The company’s 50 day moving average is $37.72 and its 200 day moving average is $42.96.

International Seaways Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is 4.64%.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the transaction, the senior vice president now owns 48,803 shares of the company’s stock, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in International Seaways by 221.0% in the third 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 period. Bridgeway Capital Management LLC bought a new position in International Seaways during the fourth quarter worth $14,269,000. Vanguard Group Inc. boosted its stake in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after acquiring an additional 369,145 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of International Seaways in the 4th quarter valued at about $11,374,000. Finally, Empowered Funds LLC raised its position in shares of International Seaways by 470.8% during the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock worth $9,813,000 after purchasing an additional 225,196 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.