TrueMark Investments LLC Purchases 62,387 Shares of International Seaways, Inc. (NYSE:INSW)

TrueMark Investments LLC raised its position in shares of International Seaways, Inc. (NYSE:INSW) by 69.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,698 shares of the transportation company’s stock after acquiring an additional 62,387 shares during the quarter. International Seaways comprises 1.8% of TrueMark Investments LLC’s investment portfolio, making the stock its 10th biggest holding. TrueMark Investments LLC owned about 0.31% of International Seaways worth $5,488,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of INSW. Vanguard Group Inc. raised its stake in International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after buying an additional 369,145 shares during the period. American Century Companies Inc. raised its position in shares of International Seaways by 9.8% during the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company’s stock worth $58,681,000 after purchasing an additional 146,145 shares during the period. Geode Capital Management LLC lifted its holdings in shares of International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares in the last quarter. FMR LLC grew its position in 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 purchasing an additional 414,610 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in International Seaways by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock valued at $16,662,000 after purchasing an additional 32,953 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INSW has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price target on International Seaways in a research report on Friday, January 24th. Two investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Insider Activity

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total transaction of $35,070.00. Following the completion of the transaction, the senior vice president now owns 49,803 shares of the company’s stock, valued at $1,746,591.21. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,400 shares of company stock worth $324,296. 1.90% of the stock is owned by corporate insiders.

International Seaways Price Performance

Shares of NYSE:INSW opened at $33.85 on Wednesday. The firm has a market capitalization of $1.67 billion, a PE ratio of 3.27 and a beta of -0.17. 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 company has a 50-day moving average price of $36.66 and a two-hundred day moving average price of $40.98. International Seaways, Inc. has a twelve month low of $31.70 and a twelve month high of $65.94.

International Seaways Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. International Seaways’s dividend payout ratio is 5.72%.

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.