Renaissance Technologies LLC Sells 81,400 Shares of International Seaways, Inc. (NYSE:INSW)

Renaissance Technologies LLC decreased its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 739,000 shares of the transportation company's stock after selling 81,400 shares during the quarter. Renaissance Technologies LLC owned 1.50% of International Seaways worth $26,560,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INSW. Vanguard Group Inc. lifted its position in shares of International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after acquiring an additional 369,145 shares in the last quarter. American Century Companies Inc. lifted its holdings in International Seaways by 9.8% in the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock worth $58,681,000 after purchasing an additional 146,145 shares in the last quarter. Geode Capital Management LLC boosted its stake in International Seaways by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after purchasing an additional 4,769 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in International Seaways by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock valued at $16,662,000 after buying an additional 32,953 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in International Seaways by 1.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after buying an additional 7,325 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total transaction of $63,320.00. Following the sale, the chief executive officer now directly owns 198,771 shares of the company's stock, valued at $6,293,089.86. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now owns 50,453 shares of the company's stock, valued at approximately $1,684,625.67. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,400 shares of company stock worth $385,176 in the last three months. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INSW shares. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a "buy" rating and set a $58.00 price objective on shares of International Seaways in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, International Seaways currently has an average rating of "Moderate Buy" and an average price target of $57.50.

International Seaways Price Performance

Shares of INSW stock traded up $1.37 on Friday, reaching $33.31. The company's stock had a trading volume of 581,436 shares, compared to its average volume of 740,983. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 3.22 and a beta of -0.01. The stock's fifty day simple moving average is $34.18 and its 200-day simple moving average is $38.76. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. International Seaways's dividend payout ratio (DPR) is presently 5.72%.

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.