New York State Teachers Retirement System Buys New Shares in International Seaways, Inc. (NYSE:INSW)

New York State Teachers Retirement System purchased a new position in shares of International Seaways, Inc. (NYSE:INSW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,666 shares of the transportation company’s stock, valued at approximately $311,000.

Several other large investors have also added to or reduced their stakes in INSW. Blue Trust Inc. purchased a new position in shares of International Seaways during the third quarter worth $41,000. Sunbelt Securities Inc. purchased a new position in shares of International Seaways during the 3rd quarter valued at about $52,000. KBC Group NV lifted its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the period. R Squared Ltd acquired a new position in shares of International Seaways in the 4th quarter valued at about $59,000. Finally, DMC Group LLC boosted its stake in shares of International Seaways by 9.9% in the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock worth $215,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

Shares of INSW stock opened at $37.66 on Tuesday. The company has a market capitalization of $1.85 billion, a P/E ratio of 3.64 and a beta of -0.11. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month high of $65.94. The business’s 50 day moving average is $37.56 and its two-hundred day moving average is $43.37. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group decreased their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. SEB Equity Research set a $50.00 target price on shares of International Seaways in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Activity

In other news, SVP Derek G. Solon sold 1,200 shares of International Seaways stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the sale, the senior vice president now directly owns 45,687 shares of the company’s stock, valued at $1,777,681.17. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on 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 owns 49,803 shares in the company, valued at $1,746,591.21. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,200 shares of company stock worth $160,402 in the last quarter. Corporate 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.