Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New $310,000 Investment in International Seaways, Inc. (NYSE:INSW)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,612 shares of the transportation company’s stock, valued at approximately $310,000.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in International Seaways in the 3rd quarter valued at $52,000. Larson Financial Group LLC acquired a new position in shares of International Seaways in the fourth quarter valued at $37,000. R Squared Ltd bought a new position in shares of International Seaways in the fourth quarter valued at about $59,000. KBC Group NV raised its position 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 valued at $62,000 after purchasing an additional 653 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of International Seaways during the 4th quarter worth about $69,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In related news, SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were 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 $1,684,625.67. This represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the chief executive officer now owns 179,557 shares in the company, valued at $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 ninety days, insiders sold 9,400 shares of company stock worth $324,296. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the topic of several 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 price target on International Seaways in a report on Friday, January 24th. Two equities 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, the company currently has an average rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Price Performance

Shares of International Seaways stock opened at $32.85 on Friday. 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 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, Inc. has a twelve month low of $31.70 and a twelve month high of $65.94. The company has a 50-day simple moving average of $36.38 and a two-hundred day simple moving average of $40.88.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given 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 1.46%. International Seaways’s payout ratio is 5.72%.

International Seaways Company 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.