Oregon Public Employees Retirement Fund Invests $341,000 in International Seaways, Inc. (NYSE:INSW)

Oregon Public Employees Retirement Fund purchased a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,500 shares of the transportation company's stock, valued at approximately $341,000.

Other hedge funds have also recently made changes to their positions in the company. Bfsg LLC grew its stake in International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock worth $99,000 after purchasing an additional 357 shares during the period. Franklin Resources Inc. increased its stake in shares of International Seaways by 0.8% in the 3rd 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 in the last quarter. KBC Group NV lifted its position in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after acquiring an additional 428 shares during the period. 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 worth $370,000 after acquiring an additional 447 shares in the last quarter. Finally, DMC Group LLC boosted its stake in International Seaways by 9.9% during the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock worth $215,000 after acquiring an additional 540 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Up 2.5 %

NYSE INSW traded up $0.86 during trading hours on Thursday, hitting $34.50. The company's stock had a trading volume of 230,875 shares, compared to its average volume of 941,357. The company has a market capitalization of $1.70 billion, a PE ratio of 3.33 and a beta of -0.11. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. 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 $37.59 and its two-hundred day simple moving average is $42.66.

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International Seaways Cuts Dividend

The business 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 is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. International Seaways's dividend payout ratio is presently 5.72%.

Wall Street Analyst Weigh In

INSW has been the topic of a number of research analyst reports. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reiterated a "buy" rating and issued a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. Two 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 stock. According to data from MarketBeat, International Seaways currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the sale, the senior vice president now owns 55,852 shares in the company, valued at approximately $1,892,824.28. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $108,060 over the last 90 days. Insiders own 1.90% of the company's stock.

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.