Arrowstreet Capital Limited Partnership Has $1.35 Million Stock Holdings in International Seaways, Inc. (NYSE:INSW)

Arrowstreet Capital Limited Partnership reduced its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 76.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,515 shares of the transportation company's stock after selling 124,081 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.08% of International Seaways worth $1,348,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after purchasing an additional 38,871 shares during the last quarter. Barclays PLC increased its holdings in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after acquiring an additional 174,695 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in International Seaways by 1,677.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock valued at $3,987,000 after acquiring an additional 104,704 shares during the period. State of Alaska Department of Revenue acquired a new stake in International Seaways during the 4th quarter valued at $804,000. Finally, Thrivent Financial for Lutherans bought a new position in International Seaways during the fourth quarter worth $1,121,000. 67.29% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on INSW. Jefferies Financial Group reissued a "buy" rating and set 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 shares of International Seaways in a research report on Friday, January 24th. 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.com, International Seaways presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $32.63, for a total transaction of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company's stock, valued at approximately $1,854,884.98. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at $6,223,445.62. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,400 shares of company stock valued at $321,856 over the last three months. 1.90% of the stock is owned by insiders.

International Seaways Price Performance

Shares of NYSE INSW traded down $1.02 during mid-day trading on Tuesday, reaching $31.41. The company had a trading volume of 699,824 shares, compared to its average volume of 737,116. International Seaways, Inc. has a one year low of $27.20 and a one year high of $65.94. The business's 50-day simple moving average is $34.62 and its 200 day simple moving average is $38.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 3.03 and a beta of -0.01.

International Seaways Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.53%. International Seaways's dividend 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.