Federated Hermes Inc. Sells 3,527 Shares of International Seaways, Inc. (NYSE:INSW)

Federated Hermes Inc. lessened its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 99,677 shares of the transportation company’s stock after selling 3,527 shares during the period. Federated Hermes Inc. owned 0.20% of International Seaways worth $3,582,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after purchasing an additional 369,145 shares during the period. American Century Companies Inc. grew its holdings in shares of International Seaways by 9.8% in the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company’s stock valued at $58,681,000 after acquiring an additional 146,145 shares in the last quarter. Geode Capital Management LLC grew its stake in International Seaways by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company’s stock valued at $34,084,000 after purchasing an additional 4,769 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in International Seaways by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock worth $16,662,000 after buying an additional 32,953 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of International Seaways by 1.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company’s stock valued at $15,450,000 after purchasing an additional 7,325 shares during the period. Institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

International Seaways stock opened at $33.31 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 3.22 and a beta of -0.01. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $34.78 and its two-hundred day moving average price is $39.21. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.94.

International Seaways Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.44%. International Seaways’s payout ratio is presently 5.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on INSW. Jefferies Financial Group reaffirmed 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 research note on Friday, January 24th. Two 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 has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Insiders Place Their Bets

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 56,846 shares in the company, valued at $1,854,884.98. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the sale, the chief executive officer now owns 179,557 shares of the company’s stock, valued at approximately $6,223,445.62. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock valued at $321,856 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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.