AQR Capital Management LLC Has $6.94 Million Stock Holdings in International Seaways Inc. $INSW

Key Points

• AQR Capital Management LLC has reduced its holdings in International Seaways Inc. by 8.0%, now owning approximately 0.42% of the company, valued at about $6.94 million.
• BTIG Research has lowered its target price on International Seaways from $70.00 to $60.00 while maintaining a "buy" rating on the stock.
• The company announced a quarterly dividend of $0.12 per share, representing an annualized yield of 1.0%, with the payment date set for September 24th.

AQR Capital Management LLC cut its position in International Seaways Inc. (NYSE:INSW - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 209,079 shares of the transportation company's stock after selling 18,250 shares during the period. AQR Capital Management LLC owned about 0.42% of International Seaways worth $6,941,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company's stock worth $311,000 after purchasing an additional 2,768 shares during the period. Energy Income Partners LLC raised its holdings in International Seaways by 85.5% in the first quarter. Energy Income Partners LLC now owns 57,822 shares of the transportation company's stock worth $1,920,000 after purchasing an additional 26,644 shares during the period. Baird Financial Group Inc. acquired a new stake in International Seaways in the first quarter worth $6,965,000. Vident Advisory LLC raised its holdings in International Seaways by 362.2% in the first quarter. Vident Advisory LLC now owns 101,443 shares of the transportation company's stock worth $3,368,000 after purchasing an additional 79,496 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its position in shares of International Seaways by 12.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 48,695 shares of the transportation company's stock worth $1,617,000 after acquiring an additional 5,395 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Up 1.3%

International Seaways stock traded up $0.61 during mid-day trading on Wednesday, reaching $49.03. The company's stock had a trading volume of 563,823 shares, compared to its average volume of 484,384. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.19 and a beta of 0.08. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $54.84. The business's 50 day simple moving average is $43.02 and its 200 day simple moving average is $38.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. The business had revenue of $188.82 million during the quarter, compared to the consensus estimate of $199.06 million. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The firm's revenue for the quarter was down 24.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 earnings per share. As a group, research analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. International Seaways's dividend payout ratio (DPR) is currently 9.98%.

Analyst Upgrades and Downgrades

Separately, BTIG Research lowered their price objective on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $53.50.

Insider Transactions at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $40.21, for a total value of $40,210.00. Following the completion of the sale, the senior vice president owned 58,752 shares in the company, valued at $2,362,417.92. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $49.08, for a total transaction of $98,160.00. Following the completion of the sale, the chief executive officer owned 188,771 shares of the company's stock, valued at approximately $9,264,880.68. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $836,770. 2.00% of the stock is owned by company insiders.

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.