New York State Teachers Retirement System Has $690,000 Stake in International Seaways Inc. (NYSE:INSW)

New York State Teachers Retirement System lifted its stake in International Seaways Inc. (NYSE:INSW - Free Report) by 139.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,794 shares of the transportation company's stock after purchasing an additional 12,128 shares during the quarter. New York State Teachers Retirement System's holdings in International Seaways were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Glenorchy Capital Ltd lifted its stake 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 in the last quarter. Farther Finance Advisors LLC lifted its stake in International Seaways by 3.6% in the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after acquiring an additional 360 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in International Seaways by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after acquiring an additional 370 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in International Seaways by 30.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock worth $88,000 after acquiring an additional 564 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after acquiring an additional 596 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

International Seaways Stock Down 2.0%

Shares of INSW traded down $0.78 during midday trading on Monday, reaching $39.26. 548,853 shares of the stock were exchanged, compared to its average volume of 759,197. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $58.73. The firm has a 50 day simple moving average of $38.14 and a 200-day simple moving average of $36.38. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 6.07 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping 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 company had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same period last year, the business earned $2.92 EPS. The business's quarterly revenue was down 32.9% on a year-over-year basis. Research analysts forecast that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.22%. 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 price objective on shares of International Seaways in a research note on Thursday, May 8th.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $37.00, for a total transaction of $37,000.00. Following the completion of the sale, the senior vice president directly owned 59,752 shares of the company's stock, valued at $2,210,824. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction dated 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 directly owned 55,893 shares in the company, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock valued at $382,570 in the last three months. Corporate insiders own 2.00% of the company's stock.

About International Seaways

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.