AQR Capital Management LLC Has $13.64 Million Stock Holdings in International Seaways, Inc. (NYSE:INSW)

AQR Capital Management LLC reduced its position in shares of International Seaways, Inc. (NYSE:INSW) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 230,711 shares of the transportation company’s stock after selling 33,528 shares during the quarter. AQR Capital Management LLC owned about 0.47% of International Seaways worth $13,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INSW. Vanguard Group Inc. grew its holdings in shares of International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares during the last quarter. American Century Companies Inc. boosted its stake in International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares during the last quarter. Renaissance Technologies LLC increased its holdings in International Seaways by 5.3% during the 2nd quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after purchasing an additional 44,200 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of International Seaways by 4.1% in the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock worth $50,482,000 after purchasing an additional 33,712 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of International Seaways by 20.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after purchasing an additional 139,569 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of NYSE:INSW opened at $51.40 on Wednesday. The company has a market capitalization of $2.54 billion, a P/E ratio of 4.80 and a beta of -0.07. The company’s 50-day moving average is $51.22 and its 200 day moving average is $55.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. International Seaways, Inc. has a fifty-two week low of $40.68 and a fifty-two week high of $65.94.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The company had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same period in the prior year, the company earned $3.12 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. On average, equities research analysts forecast that International Seaways, Inc. will post 9.51 earnings per share for the current year.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s dividend payout ratio is currently 4.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus upped their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $68.00.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the sale, the chief financial officer now owns 38,849 shares of the company’s stock, valued at approximately $2,174,378.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the transaction, the chief financial officer now directly owns 38,849 shares of the company’s stock, valued at approximately $2,174,378.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock worth $653,400 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

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.