International Seaways, Inc. (NYSE:INSW) Shares Sold by Aurora Investment Counsel

Aurora Investment Counsel reduced its stake in shares of International Seaways, Inc. (NYSE:INSW) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,720 shares of the transportation company’s stock after selling 1,097 shares during the period. Aurora Investment Counsel’s holdings in International Seaways were worth $421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of International Seaways by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares during the period. Kingsview Wealth Management LLC purchased a new position in International Seaways during the third quarter worth about $2,161,000. Charles Schwab Investment Management Inc. increased its position in shares of International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock valued at $22,205,000 after acquiring an additional 32,825 shares during the last quarter. Barclays PLC raised its stake in shares of International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after acquiring an additional 174,695 shares during the period. Finally, FMR LLC lifted its holdings in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s 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 sale, the senior vice president now owns 48,803 shares of the company’s stock, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock worth $108,060. 1.90% of the stock is currently owned by company insiders.

International Seaways Stock Down 0.5 %

International Seaways stock opened at $33.00 on Friday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 3.19 and a beta of -0.17. 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 twelve month low of $31.70 and a twelve month high of $65.94. The stock’s fifty day simple moving average is $37.40 and its 200-day simple moving average is $42.09.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio is currently 5.72%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.