Illinois Municipal Retirement Fund Purchases Shares of 20,222 International Seaways Inc. (NYSE:INSW)

Illinois Municipal Retirement Fund bought a new position in International Seaways Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,222 shares of the transportation company's stock, valued at approximately $671,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INSW. Glenorchy Capital Ltd raised its holdings in International Seaways by 0.6% in the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock worth $1,809,000 after acquiring an additional 322 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after purchasing an additional 360 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of International Seaways by 2.8% during the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock valued at $457,000 after purchasing an additional 370 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of International Seaways by 30.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock valued at $88,000 after purchasing an additional 564 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after buying an additional 596 shares during the last quarter. Institutional investors own 67.29% of the company's stock.

International Seaways Stock Performance

Shares of NYSE INSW traded up $0.13 during midday trading on Friday, hitting $38.87. 341,805 shares of the stock traded hands, compared to its average volume of 760,556. The firm has a market capitalization of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. International Seaways Inc. has a one year low of $27.20 and a one year high of $59.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The firm has a 50-day moving average of $37.60 and a two-hundred day moving average of $36.18.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. International Seaways's revenue was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 earnings per share. On average, equities analysts forecast that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research report on Thursday, May 8th.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $37.00, for a total value of $37,000.00. Following the completion of the sale, the senior vice president directly owned 59,752 shares in the company, valued at $2,210,824. This represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Derek G. Solon sold 1,500 shares of International Seaways stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the transaction, the senior vice president owned 55,893 shares in the company, valued at $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,500 shares of company stock valued at $382,570. 2.00% of the stock is owned by 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.