Teacher Retirement System of Texas Lowers Position in International Seaways Inc. (NYSE:INSW)

Teacher Retirement System of Texas lessened its holdings in International Seaways Inc. (NYSE:INSW - Free Report) by 95.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,093 shares of the transportation company's stock after selling 119,773 shares during the period. Teacher Retirement System of Texas' holdings in International Seaways were worth $202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after purchasing an additional 369,145 shares in the last quarter. American Century Companies Inc. raised its position in International Seaways by 9.8% during the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock valued at $58,681,000 after purchasing an additional 146,145 shares in the last quarter. Geode Capital Management LLC raised its position in International Seaways by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock valued at $34,084,000 after purchasing an additional 4,769 shares in the last quarter. Loomis Sayles & Co. L P raised its position in International Seaways by 1.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after purchasing an additional 7,325 shares in the last quarter. Finally, Northern Trust Corp raised its position in International Seaways by 15.2% during the fourth quarter. Northern Trust Corp now owns 424,290 shares of the transportation company's stock valued at $15,249,000 after purchasing an additional 55,824 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Insider Buying and Selling

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm'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 completion of the sale, the chief executive officer directly owned 192,771 shares in the company, valued at $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 owned 59,752 shares of the company's stock, valued at $2,210,824. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock valued at $473,730 over the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

International Seaways Stock Down 0.9%

INSW opened at $38.91 on Monday. The company has a market cap of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. The business's 50-day moving average price is $38.35 and its 200-day moving average price is $36.49. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $58.73.

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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. International Seaways's quarterly revenue was down 32.9% on a year-over-year basis. During the same period last year, the firm earned $2.92 earnings per share. On average, equities analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

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

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.

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