8,612 Shares in International Seaways, Inc. (NYSE:INSW) Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in International Seaways, Inc. (NYSE:INSW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,612 shares of the transportation company's stock, valued at approximately $310,000.

A number of other large investors have also recently bought and sold shares of the business. Larson Financial Group LLC acquired a new position in International Seaways during the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. acquired a new position in International Seaways in the 3rd quarter valued at $52,000. R Squared Ltd acquired a new position in International Seaways in the 4th quarter valued at $59,000. KBC Group NV raised its holdings in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after acquiring an additional 653 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in International Seaways during the 4th quarter worth $69,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Stock Performance

Shares of NYSE INSW traded up $0.11 during trading hours on Monday, reaching $33.25. The stock had a trading volume of 658,073 shares, compared to its average volume of 713,096. International Seaways, Inc. has a twelve month low of $31.70 and a twelve month high of $65.94. 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 business's fifty day moving average is $36.17 and its two-hundred day moving average is $40.56. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 3.21 and a beta of -0.17.

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International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways's payout ratio is 5.72%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on 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 directly owns 179,557 shares in the company, valued at $6,223,445.62. This represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the sale, the senior vice president now directly owns 49,803 shares of the company's stock, valued at $1,746,591.21. This represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,400 shares of company stock worth $324,296. Corporate insiders own 1.90% of the company's stock.

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.