Segall Bryant & Hamill LLC Sells 6,738 Shares of International Seaways, Inc. (NYSE:INSW)

Segall Bryant & Hamill LLC decreased its position in shares of International Seaways, Inc. (NYSE:INSW) by 6.8% during the 4th quarter, Holdings Channel reports. The fund owned 91,859 shares of the transportation company’s stock after selling 6,738 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in International Seaways were worth $3,301,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of INSW. Larson Financial Group LLC acquired a new position in shares of International Seaways in the 4th quarter valued at $37,000. Sunbelt Securities Inc. bought a new position in International Seaways during the third quarter worth about $52,000. R Squared Ltd acquired a new position in International Seaways in the fourth quarter valued at about $59,000. KBC Group NV increased its holdings in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock worth $62,000 after acquiring an additional 653 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of International Seaways during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, SVP Derek G. Solon sold 4,400 shares of the 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 directly owns 50,453 shares of the company’s stock, valued at approximately $1,684,625.67. This represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the transaction, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,400 shares of company stock valued at $324,296. Corporate insiders own 1.90% of the company’s stock.

International Seaways Trading Down 4.2 %

NYSE INSW opened at $32.85 on Friday. 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 stock’s 50 day moving average price is $36.38 and its two-hundred day moving average price is $40.88. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 3.17 and a beta of -0.17.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Wall Street Analyst Weigh In

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