Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires New Shares in International Seaways, Inc. (NYSE:INSW)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in International Seaways, Inc. (NYSE:INSW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,612 shares of the transportation company’s stock, valued at approximately $310,000.

Several other institutional investors have also recently bought and sold shares of INSW. Geode Capital Management LLC grew its holdings in shares of International Seaways by 4.3% during 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. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 32,825 shares during the last quarter. Barclays PLC increased 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. FMR LLC lifted its stake in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after acquiring an additional 414,610 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of International Seaways in the 3rd quarter valued at $682,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INSW. SEB Equity Research set a $50.00 target price on International Seaways in a report on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Stock Down 4.2 %

Shares of INSW opened at $32.85 on Friday. The stock’s 50-day moving average price is $36.38 and its two-hundred day moving average price is $40.88. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The company has a market capitalization of $1.62 billion, a PE ratio of 3.17 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. Investors of record on Friday, March 14th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, March 14th. International Seaways’s dividend payout ratio is currently 5.72%.

Insider Activity at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value 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 SEC, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of the business’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 transaction, the senior vice president now directly owns 49,803 shares in the company, 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. Insiders have sold 9,400 shares of company stock worth $324,296 over the last ninety days. 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.