International Seaways, Inc. (NYSE:INSW) Holdings Lowered by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in International Seaways, Inc. (NYSE:INSW) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,866 shares of the transportation company’s stock after selling 47,864 shares during the period. Teacher Retirement System of Texas owned approximately 0.26% of International Seaways worth $4,524,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in International Seaways in the third quarter worth approximately $620,000. Charles Schwab Investment Management Inc. raised its stake in shares of International Seaways by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after buying an additional 32,825 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of International Seaways in the third quarter valued at $2,161,000. FMR LLC lifted its holdings in shares of International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after buying an additional 414,610 shares during the period. Finally, Cynosure Group LLC boosted its stake in International Seaways by 6.6% during the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Up 1.6 %

INSW stock opened at $34.35 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a market capitalization of $1.69 billion, a P/E ratio of 3.32 and a beta of -0.17. International Seaways, Inc. has a 52-week low of $31.70 and a 52-week high of $65.94. The company’s 50 day simple moving average is $36.81 and its 200-day simple moving average is $41.10.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. International Seaways’s payout ratio is currently 5.72%.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the senior vice president now owns 50,453 shares of the company’s stock, valued at approximately $1,684,625.67. The trade was 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 $324,296 over the last quarter. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

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

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.