Maryland State Retirement & Pension System Acquires New Position in International Seaways, Inc. (NYSE:INSW)

Maryland State Retirement & Pension System bought a new stake in International Seaways, Inc. (NYSE:INSW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,584 shares of the transportation company's stock, valued at approximately $488,000.

Several other institutional investors have also added to or reduced their stakes in INSW. Bfsg LLC increased its position in shares of International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock valued at $99,000 after acquiring an additional 357 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of International Seaways by 3.6% during the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock valued at $375,000 after acquiring an additional 360 shares during the last quarter. Franklin Resources Inc. increased its stake in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock valued at $2,428,000 after acquiring an additional 379 shares during the last quarter. Cynosure Group LLC raised its stake in shares of International Seaways by 6.6% during the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock worth $370,000 after acquiring an additional 447 shares in the last quarter. Finally, DMC Group LLC lifted its stake in shares of International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock valued at $215,000 after acquiring an additional 540 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

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International Seaways Stock Up 0.9 %

Shares of International Seaways stock traded up $0.29 on Friday, reaching $33.16. The stock had a trading volume of 491,479 shares, compared to its average volume of 712,443. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94. The company has a 50 day moving average price of $36.28 and a 200 day moving average price of $40.77. 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 $1.63 billion, a P/E ratio of 3.20 and a beta of -0.17.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given 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 1.45%. International Seaways's dividend payout ratio is currently 5.72%.

Analyst Ratings Changes

Several analysts recently weighed in on INSW shares. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reiterated a "buy" rating and set a $58.00 price objective on shares of International Seaways in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now directly owns 48,803 shares in the company, valued at approximately $1,908,197.30. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares in the company, 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. Over the last three months, insiders have sold 9,400 shares of company stock valued at $324,296. 1.90% of the stock is owned by insiders.

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.