American Century Companies Inc. Buys 146,145 Shares of International Seaways, Inc. (NYSE:INSW)

American Century Companies Inc. boosted its stake in International Seaways, Inc. (NYSE:INSW) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,632,753 shares of the transportation company’s stock after purchasing an additional 146,145 shares during the quarter. American Century Companies Inc.’s holdings in International Seaways were worth $58,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INSW. FMR LLC raised its position in shares of International Seaways by 221.0% in the 3rd 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 in the last quarter. Empowered Funds LLC increased its stake in International Seaways by 470.8% in the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock valued at $9,813,000 after acquiring an additional 225,196 shares during the last quarter. Principal Financial Group Inc. raised its position in International Seaways by 685.6% during the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company’s stock valued at $8,070,000 after purchasing an additional 195,961 shares in the last quarter. Barclays PLC lifted its stake in International Seaways by 206.3% during 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 last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of International Seaways by 111.5% in the 4th quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company’s stock valued at $11,690,000 after purchasing an additional 171,498 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the transaction, the chief executive officer now directly owns 179,557 shares in the company, 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 have sold 9,400 shares of company stock valued at $324,296 in the last ninety days. 1.90% of the stock is owned by company insiders.

International Seaways Price Performance

Shares of NYSE:INSW opened at $33.85 on Wednesday. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. 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’s fifty day moving average is $36.66 and its 200-day moving average is $40.98. The firm has a market cap of $1.67 billion, a PE ratio of 3.27 and a beta of -0.17.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is presently 5.72%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INSW shares. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. Two 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.