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

American Century Companies Inc. lifted its position in shares of International Seaways, Inc. (NYSE:INSW) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,632,753 shares of the transportation company’s stock after buying an additional 146,145 shares during the period. American Century Companies Inc. owned about 3.32% of International Seaways worth $58,681,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC acquired a new position in International Seaways during the 4th quarter worth approximately $37,000. Sunbelt Securities Inc. bought a new stake in shares of International Seaways in the third quarter worth $52,000. R Squared Ltd acquired a new position in International Seaways during the fourth quarter worth $59,000. KBC Group NV grew its position in International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 653 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in International Seaways in the 4th quarter valued at $69,000. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the transaction, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at $1,684,625.67. This represents a 8.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the transaction, the senior vice president now owns 49,803 shares in the company, valued at $1,746,591.21. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,400 shares of company stock valued at $324,296 in the last quarter. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Trading Down 1.4 %

Shares of NYSE:INSW opened at $33.85 on Wednesday. The company has a 50-day simple moving average of $36.66 and a 200 day simple moving average of $40.98. The company has a market capitalization of $1.67 billion, a P/E ratio of 3.27 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 52-week low of $31.70 and a 52-week high of $65.94.

International Seaways Cuts Dividend

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