Winmill & CO. Inc. Acquires New Shares in International Seaways, Inc. (NYSE:INSW)

Winmill & CO. Inc. bought a new position in International Seaways, Inc. (NYSE:INSW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 175,600 shares of the transportation company’s stock, valued at approximately $6,311,000. International Seaways comprises about 2.0% of Winmill & CO. Inc.’s holdings, making the stock its 23rd biggest position. Winmill & CO. Inc. owned 0.36% of International Seaways at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc lifted its stake in shares of International Seaways by 174.4% in the 4th quarter. Legal & General Group Plc now owns 109,971 shares of the transportation company’s stock worth $3,952,000 after purchasing an additional 69,893 shares during the period. Invesco Ltd. grew its position in shares of International Seaways by 50.9% during the 4th quarter. Invesco Ltd. now owns 157,656 shares of the transportation company’s stock valued at $5,666,000 after acquiring an additional 53,207 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of International Seaways by 82.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 9,368 shares of the transportation company’s stock valued at $337,000 after acquiring an additional 4,236 shares during the period. Wells Fargo & Company MN boosted its position in shares of International Seaways by 34.2% in the fourth quarter. Wells Fargo & Company MN now owns 29,131 shares of the transportation company’s stock worth $1,047,000 after purchasing an additional 7,431 shares during the period. Finally, Donald Smith & CO. Inc. raised its position in shares of International Seaways by 77.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 362,192 shares of the transportation company’s stock valued at $13,017,000 after purchasing an additional 158,495 shares during the period. Institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $28.74 on Monday. The stock has a 50 day moving average price of $35.78 and a 200 day moving average price of $40.03. International Seaways, Inc. has a 52-week low of $26.24 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 has a market capitalization of $1.41 billion, a P/E ratio of 2.78 and a beta of -0.01.

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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways’s payout ratio is presently 5.72%.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price objective 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 research report on Friday, January 24th. Two 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. This trade represents a 8.02 % decrease in their position. 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 three months. Company insiders own 1.90% of the company’s stock.

International Seaways Profile

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.