New York State Common Retirement Fund Purchases 16,100 Shares of International Seaways, Inc. (NYSE:INSW)

New York State Common Retirement Fund grew its position in International Seaways, Inc. (NYSE:INSW) by 111.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,501 shares of the transportation company’s stock after purchasing an additional 16,100 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of International Seaways worth $1,096,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bfsg LLC increased its holdings in International Seaways by 14.9% in the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after buying an additional 357 shares during the period. Franklin Resources Inc. increased its holdings in International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after buying an additional 379 shares during the period. KBC Group NV increased its holdings in 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. Cynosure Group LLC increased its holdings in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after buying an additional 447 shares during the period. Finally, DMC Group LLC increased its holdings in International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock valued at $215,000 after buying an additional 540 shares during the period. Institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the transaction, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at $1,892,824.28. The trade was a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,000 shares of company stock valued at $108,060 in the last three months. 1.90% of the stock is owned by corporate insiders.

International Seaways Stock Down 1.2 %

Shares of INSW opened at $32.93 on Tuesday. The company has a market capitalization of $1.62 billion, a P/E ratio of 3.18 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. International Seaways, Inc. has a one year low of $31.86 and a one year high of $65.94. The business’s 50 day simple moving average is $37.72 and its 200-day simple moving average is $42.96.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, March 14th. International Seaways’s payout ratio is currently 5.72%.

Analyst Upgrades and Downgrades

INSW has been the topic of several analyst reports. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and an average price target of $57.50.

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.