Strs Ohio Takes $651,000 Position in International Seaways Inc. $INSW

Strs Ohio bought a new position in International Seaways Inc. (NYSE:INSW) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,600 shares of the transportation company’s stock, valued at approximately $651,000.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 596 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of International Seaways by 139.9% during the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company’s stock worth $690,000 after buying an additional 12,128 shares in the last quarter. KBC Group NV grew its holdings in International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company’s stock worth $93,000 after buying an additional 1,063 shares in the last quarter. Deutsche Bank AG lifted its stake in International Seaways by 46.2% in the fourth quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company’s stock valued at $1,257,000 after purchasing an additional 11,050 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock worth $53,000 after acquiring an additional 738 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total value of $77,240.00. Following the sale, the chief executive officer owned 192,771 shares in the company, valued at approximately $7,444,816.02. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $48.27, for a total value of $48,270.00. Following the completion of the sale, the chief financial officer directly owned 63,502 shares of the company’s stock, valued at $3,065,241.54. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $836,770 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, BTIG Research lowered their price target on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $53.50.

International Seaways Stock Performance

INSW opened at $47.63 on Friday. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $54.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.90 and a beta of 0.08. The business has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $38.38.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. The business had revenue of $188.82 million for the quarter, compared to the consensus estimate of $199.06 million. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. International Seaways’s quarterly revenue was down 24.0% on a year-over-year basis. During the same quarter last year, the company posted $2.37 earnings per share. Research analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 10th. International Seaways’s dividend payout ratio is currently 9.98%.

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.