International Seaways, Inc. (NYSE:INSW) Stock Holdings Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 27.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,866 shares of the transportation company's stock after selling 47,864 shares during the quarter. Teacher Retirement System of Texas owned 0.26% of International Seaways worth $4,524,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in shares of International Seaways in the 3rd quarter worth approximately $620,000. Charles Schwab Investment Management Inc. lifted its stake in International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock worth $22,205,000 after purchasing an additional 32,825 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in International Seaways during the third quarter worth $2,161,000. FMR LLC boosted its holdings in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after purchasing an additional 414,610 shares during the period. Finally, Cynosure Group LLC increased 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 valued at $370,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have recently issued reports on INSW. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research 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 note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.50.

International Seaways Stock Performance

NYSE INSW traded up $0.29 during trading hours on Friday, hitting $33.16. The company had a trading volume of 491,479 shares, compared to its average volume of 712,443. International Seaways, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $65.94. The firm has a market cap of $1.63 billion, a P/E ratio of 3.20 and a beta of -0.17. 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 business has a fifty day simple moving average of $36.28 and a 200-day simple moving average of $40.77.

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 issued a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. International Seaways's dividend payout ratio (DPR) is presently 5.72%.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the sale, the senior vice president now directly owns 49,803 shares of the company's stock, valued at approximately $1,746,591.21. This represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the transaction, 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. In the last quarter, insiders sold 9,400 shares of company stock worth $324,296. 1.90% of the stock is owned by company insiders.

About International Seaways

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.