AQR Capital Management LLC Boosts Holdings in International Seaways, Inc. (NYSE:INSW)

AQR Capital Management LLC grew its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,329 shares of the transportation company's stock after purchasing an additional 16,595 shares during the quarter. AQR Capital Management LLC owned approximately 0.46% of International Seaways worth $8,170,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in INSW. Larson Financial Group LLC acquired a new position in International Seaways in the 4th quarter worth about $37,000. Quarry LP raised its stake in shares of International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after buying an additional 852 shares during the period. R Squared Ltd purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $59,000. KBC Group NV raised its position in International Seaways by 60.2% during the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after acquiring an additional 653 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in International Seaways during the fourth quarter valued at $69,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INSW has been the topic of a number of research reports. SEB Equity Research set a $50.00 price objective on International Seaways in a report on Friday, January 24th. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday.

International Seaways Trading Up 3.2 %

INSW stock traded up $1.18 during mid-day trading on Friday, hitting $37.78. 714,821 shares of the company were exchanged, compared to its average volume of 743,611. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. The business has a fifty day simple moving average of $33.40 and a 200-day simple moving average of $36.86. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) 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 company had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. During the same period in the prior year, the firm earned $2.92 earnings per share. The business's revenue for the quarter was down 32.9% compared to the same quarter last year. On average, equities research analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, June 12th. International Seaways's dividend payout ratio is presently 5.72%.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total value of $63,320.00. Following the sale, the chief executive officer now owns 198,771 shares of the company's stock, valued at approximately $6,293,089.86. This represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the senior vice president now owns 61,752 shares of the company's stock, valued at approximately $2,100,185.52. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,400 shares of company stock worth $380,086 in the last 90 days. 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.