Teacher Retirement System of Texas Sells 47,864 Shares of International Seaways, Inc. (NYSE:INSW)

Teacher Retirement System of Texas trimmed its holdings in International Seaways, Inc. (NYSE:INSW) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,866 shares of the transportation company’s stock after selling 47,864 shares during the period. Teacher Retirement System of Texas’ holdings in International Seaways were worth $4,524,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INSW. Sunbelt Securities Inc. bought a new stake in International Seaways in the third quarter worth $52,000. Larson Financial Group LLC bought a new stake in shares of International Seaways during the 4th quarter worth about $37,000. R Squared Ltd acquired a new position in shares of International Seaways during the 4th quarter valued at about $59,000. KBC Group NV raised its stake in shares of International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 653 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in International Seaways in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Up 1.6 %

Shares of International Seaways stock opened at $34.35 on Tuesday. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94. The company’s fifty day simple moving average is $36.81 and its 200-day simple moving average is $41.10. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 3.32 and a beta of -0.17. 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 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 issued a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. International Seaways’s payout ratio is 5.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented 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 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 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, the stock has an average rating of “Moderate Buy” and an average price target of $57.50.

Insider Activity

In other news, SVP Derek G. Solon sold 4,400 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the transaction, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at approximately $1,684,625.67. This trade represents a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,400 shares of company stock valued at $324,296. 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.