Foundry Partners LLC Has $230,000 Stock Position in International Seaways, Inc. (NYSE:INSW)

Foundry Partners LLC lowered its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 23.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its position in shares of International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after purchasing an additional 38,871 shares during the period. Barclays PLC increased its stake in shares of International Seaways by 206.3% in the third 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 period. FMR LLC lifted its position in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Janus Henderson Group PLC boosted its stake in International Seaways by 51.3% during the 3rd quarter. Janus Henderson Group PLC now owns 60,107 shares of the transportation company’s stock valued at $3,098,000 after purchasing an additional 20,372 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in International Seaways by 1,677.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company’s stock valued at $3,987,000 after buying an additional 104,704 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the sale, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. This trade represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $32.63, for a total transaction of $32,630.00. Following the transaction, the senior vice president now directly owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,400 shares of company stock valued at $321,856 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Down 7.4 %

Shares of INSW stock opened at $28.74 on Friday. The stock has a market cap of $1.41 billion, a P/E ratio of 2.78 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a fifty day moving average price of $35.78 and a 200 day moving average price of $40.10. International Seaways, Inc. has a one year low of $27.20 and a one year high of $65.94.

International Seaways Cuts Dividend

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

Analyst Upgrades and Downgrades

INSW has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $57.50.

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.