9,500 Shares in International Seaways, Inc. (NYSE:INSW) Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in 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 institutional investor purchased 9,500 shares of the transportation company’s stock, valued at approximately $341,000.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares during the period. FMR LLC raised its holdings in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in International Seaways by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares during the period. Private Management Group Inc. raised its holdings in International Seaways by 29.9% in the 4th quarter. Private Management Group Inc. now owns 382,750 shares of the transportation company’s stock worth $13,756,000 after purchasing an additional 88,007 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of International Seaways by 111.5% during the fourth 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 last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at approximately $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

International Seaways Price Performance

Shares of International Seaways stock opened at $33.29 on Monday. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a market capitalization of $1.64 billion, a P/E ratio of 3.22 and a beta of -0.11. The business has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $43.01.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. International Seaways’s payout ratio is 4.64%.

International Seaways 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.