International Seaways, Inc. (NYSE:INSW) is TrueMark Investments LLC’s 10th Largest Position

TrueMark Investments LLC boosted its stake in International Seaways, Inc. (NYSE:INSW) by 69.1% during the fourth quarter, HoldingsChannel reports. The firm owned 152,698 shares of the transportation company’s stock after buying an additional 62,387 shares during the period. International Seaways comprises about 1.8% of TrueMark Investments LLC’s portfolio, making the stock its 10th biggest holding. TrueMark Investments LLC’s holdings in International Seaways were worth $5,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the 3rd quarter valued at $52,000. Larson Financial Group LLC purchased a new stake in International Seaways during the fourth quarter valued at about $37,000. R Squared Ltd bought a new stake in International Seaways during the fourth quarter worth about $59,000. KBC Group NV boosted its holdings in shares of International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after purchasing an additional 653 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of International Seaways during the 4th quarter valued at about $69,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Trading Down 1.4 %

Shares of NYSE INSW opened at $33.85 on Wednesday. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94. 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 firm has a 50-day moving average of $36.66 and a 200 day moving average of $40.98. The stock has a market cap of $1.67 billion, a P/E ratio of 3.27 and a beta of -0.17.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. International Seaways’s dividend payout ratio is currently 5.72%.

Analysts Set New Price Targets

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

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was 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 approximately $6,223,445.62. The trade was a 1.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now owns 49,803 shares in the company, valued at $1,746,591.21. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,400 shares of company stock worth $324,296 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

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.