Louisiana State Employees Retirement System Acquires Shares of 19,000 International Seaways Inc. (NYSE:INSW)

Louisiana State Employees Retirement System acquired a new stake in shares of International Seaways Inc. (NYSE:INSW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 19,000 shares of the transportation company's stock, valued at approximately $631,000.

Other large investors have also bought and sold shares of the company. Bridgeway Capital Management LLC bought a new stake in shares of International Seaways during the 4th quarter worth $14,269,000. Vanguard Group Inc. raised its stake in shares of International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after purchasing an additional 369,145 shares during the period. Clearbridge Investments LLC bought a new stake in shares of International Seaways during the 4th quarter worth $11,374,000. Winmill & CO. Inc. bought a new stake in shares of International Seaways during the 4th quarter worth $6,311,000. Finally, Donald Smith & CO. Inc. raised its stake in shares of International Seaways by 77.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 362,192 shares of the transportation company's stock worth $13,017,000 after purchasing an additional 158,495 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the sale, the senior vice president directly owned 55,893 shares in the company, valued at $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total value of $77,240.00. Following the sale, the chief executive officer owned 192,771 shares in the company, valued at approximately $7,444,816.02. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock worth $473,730 over the last ninety days. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

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

International Seaways Trading Down 0.9%

Shares of International Seaways stock opened at $38.91 on Monday. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $58.73. The stock's 50-day simple moving average is $38.35 and its 200 day simple moving average is $36.49. The stock has a market capitalization of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The business had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. During the same period in the previous year, the business posted $2.92 EPS. The firm's quarterly revenue was down 32.9% compared to the same quarter last year. As a group, research analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio is presently 7.42%.

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.

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