Donald Smith & CO. Inc. Purchases 158,495 Shares of International Seaways, Inc. (NYSE:INSW)

Donald Smith & CO. Inc. boosted its position in International Seaways, Inc. (NYSE:INSW) by 77.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,192 shares of the transportation company’s stock after purchasing an additional 158,495 shares during the period. Donald Smith & CO. Inc. owned approximately 0.74% of International Seaways worth $13,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after acquiring an additional 32,825 shares during the last quarter. FMR LLC boosted its stake in shares of International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares during the period. PEAK6 Investments LLC bought a new position in shares of International Seaways in the third quarter worth about $682,000. Paloma Partners Management Co purchased a new position in International Seaways in the 3rd quarter worth about $284,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in International Seaways during the 3rd quarter valued at about $6,168,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 approximately $1,684,625.67. This represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the sale, the senior vice president now directly owns 56,846 shares of the company’s stock, valued at $1,854,884.98. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,400 shares of company stock valued at $321,856. Corporate insiders own 1.90% of the company’s stock.

International Seaways Price Performance

NYSE INSW opened at $33.09 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of 3.20 and a beta of -0.01. The firm’s 50 day moving average price is $36.04 and its 200-day moving average price is $40.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 52-week low of $31.70 and a 52-week high of $65.94.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. International Seaways’s dividend payout ratio is presently 5.72%.

Analyst Ratings Changes

INSW has been the topic of a number of research reports. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research 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 report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.