New York State Common Retirement Fund Raises Position in International Seaways, Inc. (NYSE:INSW)

New York State Common Retirement Fund boosted its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 111.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,501 shares of the transportation company's stock after acquiring an additional 16,100 shares during the quarter. New York State Common Retirement Fund owned 0.06% of International Seaways worth $1,096,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of International Seaways by 221.0% during 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. Empowered Funds LLC increased its position in International Seaways by 470.8% during the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock worth $9,813,000 after buying an additional 225,196 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of International Seaways by 685.6% during the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock worth $8,070,000 after buying an additional 195,961 shares in the last quarter. Barclays PLC lifted its holdings in shares of International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after buying an additional 174,695 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of International Seaways in the third quarter valued at about $6,168,000. Institutional investors and hedge funds own 67.29% of the company's stock.

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International Seaways Trading Up 2.7 %

NYSE:INSW traded up $0.93 on Friday, reaching $35.59. 324,738 shares of the stock traded hands, compared to its average volume of 676,332. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 3.44 and a beta of -0.11. International Seaways, Inc. has a 1-year low of $31.70 and a 1-year high of $65.94. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $37.55 and its 200-day moving average is $42.60.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. International Seaways's dividend payout ratio is currently 5.72%.

Analysts Set New Price Targets

Several research analysts have recently commented on INSW shares. SEB Equity Research set a $50.00 target price on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reissued a "buy" rating and set a $58.00 price target on shares of International Seaways in a research report 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.50.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the sale, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 3,000 shares of company stock worth $108,060 in the last quarter. Company insiders own 1.90% of the company's stock.

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.