AQR Capital Management LLC Raises Stock Position in International Seaways, Inc. (NYSE:INSW)

AQR Capital Management LLC grew its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,329 shares of the transportation company's stock after buying an additional 16,595 shares during the period. AQR Capital Management LLC owned 0.46% of International Seaways worth $8,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in INSW. Barclays PLC increased its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after acquiring an additional 174,695 shares in the last quarter. Franklin Resources Inc. raised its position in shares of International Seaways by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock worth $2,428,000 after purchasing an additional 379 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of International Seaways by 1,677.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock valued at $3,987,000 after purchasing an additional 104,704 shares in the last quarter. SG Americas Securities LLC bought a new stake in International Seaways in the fourth quarter worth about $735,000. Finally, KBC Group NV raised its holdings in International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after buying an additional 653 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

International Seaways Price Performance

NYSE INSW traded up $0.34 during trading on Monday, hitting $38.02. 142,066 shares of the stock traded hands, compared to its average volume of 741,360. The company has a market capitalization of $1.88 billion, a P/E ratio of 3.70 and a beta of -0.01. The firm has a 50-day simple moving average of $33.40 and a 200-day simple moving average of $36.80. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same quarter in the prior year, the firm posted $2.92 earnings per share. The company's revenue was down 32.9% compared to the same quarter last year. As a group, analysts predict that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.26%. International Seaways's payout ratio is 5.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on INSW shares. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research report on Thursday.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $34.01, for a total value of $34,010.00. Following the completion of the sale, the senior vice president now directly owns 61,752 shares in the company, valued at $2,100,185.52. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares of the company's stock, valued at approximately $1,684,625.67. This represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,400 shares of company stock worth $380,086 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

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.