Catalyst Funds Management Pty Ltd Grows Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Catalyst Funds Management Pty Ltd raised its position in International Seaways, Inc. (NYSE:INSW) by 21,400.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,000 shares of the transportation company’s stock after acquiring an additional 42,800 shares during the quarter. Catalyst Funds Management Pty Ltd owned approximately 0.09% of International Seaways worth $1,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of INSW. Larson Financial Group LLC purchased a new position in shares of International Seaways during the fourth quarter valued at about $37,000. Sunbelt Securities Inc. purchased a new position in shares of International Seaways during the third quarter valued at about $52,000. KBC Group NV increased its position in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the period. R Squared Ltd purchased a new position in shares of International Seaways during the fourth quarter valued at about $59,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of International Seaways during the fourth quarter valued at about $69,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the topic of several research analyst reports. 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 price objective on shares of International Seaways in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.50.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total value 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 filing with the SEC, which is accessible through this link. Also, SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,400 shares of company stock worth $254,976. Corporate insiders own 1.90% of the company’s stock.

International Seaways Price Performance

Shares of INSW opened at $33.57 on Friday. The stock has a market cap of $1.65 billion, a PE ratio of 3.24 and a beta of -0.17. 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 fifty-two week low of $31.70 and a fifty-two week high of $65.94. The firm’s 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $42.02.

International Seaways Cuts Dividend

The company 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 annualized dividend and a dividend yield of 1.43%. International Seaways’s dividend payout ratio is presently 5.72%.

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.