13,584 Shares in International Seaways, Inc. (NYSE:INSW) Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System purchased a new stake in International Seaways, Inc. (NYSE:INSW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,584 shares of the transportation company’s stock, valued at approximately $488,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Intech Investment Management LLC raised its position in shares of International Seaways by 58.3% during the fourth quarter. Intech Investment Management LLC now owns 19,041 shares of the transportation company’s stock worth $684,000 after purchasing an additional 7,009 shares during the period. Thrivent Financial for Lutherans purchased a new position in International Seaways in the 4th quarter worth about $1,121,000. Catalyst Funds Management Pty Ltd raised its holdings in International Seaways by 21,400.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 43,000 shares of the transportation company’s stock worth $1,545,000 after buying an additional 42,800 shares during the period. Swiss National Bank lifted its stake in International Seaways by 0.9% during the fourth quarter. Swiss National Bank now owns 78,100 shares of the transportation company’s stock valued at $2,807,000 after buying an additional 700 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock worth $375,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Buying and Selling

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at $1,684,625.67. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,400 shares of company stock worth $324,296. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

Shares of INSW opened at $34.35 on Tuesday. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market capitalization of $1.69 billion, a PE ratio of 3.32 and a beta of -0.17. The company’s 50 day moving average price is $36.81 and its 200 day moving average price is $41.10.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is presently 5.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $58.00 target price 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.