New York State Teachers Retirement System Has $690,000 Stock Holdings in International Seaways Inc. (NYSE:INSW)

New York State Teachers Retirement System lifted its holdings in shares of International Seaways Inc. (NYSE:INSW) by 139.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,794 shares of the transportation company’s stock after purchasing an additional 12,128 shares during the period. New York State Teachers Retirement System’s holdings in International Seaways were worth $690,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in INSW. Bank of New York Mellon Corp lifted its position in shares of International Seaways by 111.5% during the 4th quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company’s stock valued at $11,690,000 after acquiring an additional 171,498 shares during the period. Charles Schwab Investment Management Inc. increased its stake in International Seaways by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock valued at $16,662,000 after purchasing an additional 32,953 shares in the last quarter. Victory Capital Management Inc. increased its stake in International Seaways by 25.2% in the fourth quarter. Victory Capital Management Inc. now owns 194,426 shares of the transportation company’s stock valued at $6,988,000 after purchasing an additional 39,131 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of International Seaways during the fourth quarter valued at about $1,837,000. Finally, Larson Financial Group LLC bought a new position in shares of International Seaways during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th.

Insiders Place Their Bets

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $37.00, for a total transaction of $37,000.00. Following the completion of the transaction, the senior vice president directly owned 59,752 shares in the company, valued at $2,210,824. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.74, for a total transaction of $77,480.00. Following the sale, the chief executive officer directly owned 194,771 shares of the company’s stock, valued at $7,545,428.54. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,500 shares of company stock worth $382,570 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

International Seaways Price Performance

Shares of NYSE INSW opened at $39.83 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $38.04 and a two-hundred day simple moving average of $36.36. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $58.73. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 6.16 and a beta of 0.05.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The firm had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same quarter last year, the company earned $2.92 earnings per share. The company’s revenue was down 32.9% on a year-over-year basis. Analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways’s dividend payout ratio is presently 7.42%.

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.