Strs Ohio Takes $651,000 Position in International Seaways Inc. $INSW

Key Points

• Strs Ohio has acquired a new position in International Seaways Inc., purchasing 19,600 shares valued at approximately $651,000.
• In the 1st quarter, several institutional investors increased their stakes in the company, with New York State Teachers Retirement System boosting their holdings by 139.9% to own 20,794 shares worth $690,000.
• Recent insider trading includes CEO Lois K. Zabrocky selling 2,000 shares for $77,240, reducing her ownership by 1.03% to a total of 192,771 shares valued at approximately $7.4 million.

Strs Ohio bought a new position in International Seaways Inc. (NYSE:INSW - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,600 shares of the transportation company's stock, valued at approximately $651,000.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after acquiring an additional 596 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of International Seaways by 139.9% during the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock worth $690,000 after buying an additional 12,128 shares in the last quarter. KBC Group NV grew its holdings in International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock worth $93,000 after buying an additional 1,063 shares in the last quarter. Deutsche Bank AG lifted its stake in International Seaways by 46.2% in the fourth quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock valued at $1,257,000 after purchasing an additional 11,050 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after acquiring an additional 738 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was 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. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $48.27, for a total value of $48,270.00. Following the completion of the sale, the chief financial officer directly owned 63,502 shares of the company's stock, valued at $3,065,241.54. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $836,770 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, BTIG Research lowered their price target on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $53.50.

International Seaways Stock Performance

INSW opened at $47.63 on Friday. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $54.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.90 and a beta of 0.08. The business has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $38.38.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. The business had revenue of $188.82 million for 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%. International Seaways's quarterly revenue was down 24.0% on a year-over-year basis. During the same quarter last year, the company posted $2.37 earnings per share. Research analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 10th. International Seaways's dividend payout ratio is currently 9.98%.

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.

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