International Seaways, Inc. (NYSE:INSW) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,515 shares of the transportation company's stock after selling 124,081 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.08% of International Seaways worth $1,348,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after acquiring an additional 369,145 shares in the last quarter. Empowered Funds LLC increased its holdings in International Seaways by 470.8% during the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock worth $9,813,000 after purchasing an additional 225,196 shares during the period. Principal Financial Group Inc. boosted its stake in shares of International Seaways by 685.6% in the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock valued at $8,070,000 after buying an additional 195,961 shares during the period. Barclays PLC grew its position in shares of International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after buying an additional 174,695 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake 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 worth $11,690,000 after buying an additional 171,498 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the transaction, the senior vice president now directly owns 50,453 shares of the company's stock, valued at approximately $1,684,625.67. This trade represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,400 shares of company stock valued at $385,176. 1.90% of the stock is currently owned by company insiders.

International Seaways Stock Performance

NYSE INSW traded up $1.14 during trading hours on Thursday, hitting $33.08. The company had a trading volume of 109,418 shares, compared to its average volume of 737,919. The business has a 50 day moving average of $34.30 and a 200-day moving average of $38.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The company has a market cap of $1.63 billion, a PE ratio of 3.18 and a beta of -0.01.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, March 14th. International Seaways's dividend payout ratio is currently 5.72%.

Analyst Upgrades and Downgrades

INSW has been the subject 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 reiterated a "buy" rating and set a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $57.50.

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.