78,983 Shares in International Seaways, Inc. (NYSE:INSW) Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new position in International Seaways, Inc. (NYSE:INSW – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 78,983 shares of the transportation company’s stock, valued at approximately $2,924,000. Thrivent Financial for Lutherans owned 0.16% of International Seaways as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Federated Hermes Inc. acquired a new stake in International Seaways in the third quarter valued at about $28,000. Point72 Hong Kong Ltd acquired a new stake in International Seaways in the third quarter valued at about $45,000. Centiva Capital LP acquired a new stake in International Seaways in the third quarter valued at about $200,000. Bailard Inc. acquired a new stake in International Seaways in the fourth quarter valued at about $218,000. Finally, ProShare Advisors LLC acquired a new stake in International Seaways in the fourth quarter valued at about $232,000. Institutional investors own 84.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com assumed coverage on International Seaways in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on International Seaways from $58.00 to $54.00 in a research note on Monday, May 8th. Jefferies Financial Group reissued a “buy” rating and set a $64.00 price target on shares of International Seaways in a research note on Tuesday, March 21st. B. Riley lifted their price target on International Seaways from $60.00 to $70.00 in a research note on Wednesday, March 1st. Finally, Stifel Nicolaus lifted their price target on International Seaways from $60.00 to $65.00 in a research note on Tuesday, April 25th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $60.60.

International Seaways Price Performance

International Seaways stock opened at $38.02 on Wednesday. The stock’s 50 day moving average is $40.94 and its 200 day moving average is $41.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.47 and a quick ratio of 2.49. The firm has a market cap of $1.87 billion, a P/E ratio of 3.30 and a beta of 0.02. International Seaways, Inc. has a one year low of $17.89 and a one year high of $53.25.

International Seaways (NYSE:INSW – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The transportation company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $0.37. The company had revenue of $338.16 million for the quarter, compared to analyst estimates of $311.42 million. International Seaways had a return on equity of 39.81% and a net margin of 54.60%. As a group, research analysts expect that International Seaways, Inc. will post 9.13 EPS for the current year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 17.04%. The ex-dividend date of this dividend is Tuesday, June 13th. International Seaways’s dividend payout ratio is currently 4.16%.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 1,500 shares of International Seaways stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $49.36, for a total value of $74,040.00. Following the completion of the sale, the senior vice president now directly owns 30,648 shares in the company, valued at $1,512,785.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $41.31, for a total value of $41,310.00. Following the completion of the sale, the chief financial officer now directly owns 74,973 shares in the company, valued at $3,097,134.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of International Seaways stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $49.36, for a total value of $74,040.00. Following the completion of the sale, the senior vice president now owns 30,648 shares of the company’s stock, valued at $1,512,785.28. The disclosure for this sale can be found here. Insiders have sold a total of 41,400 shares of company stock valued at $2,021,494 over the last ninety days. 2.90% of the stock is owned by company insiders.

International Seaways Profile

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.