Aurora Investment Counsel reduced its stake in International Seaways Inc. (NYSE:INSW – Free Report) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,292 shares of the transportation company’s stock after selling 305 shares during the period. Aurora Investment Counsel’s holdings in International Seaways were worth $412,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Lesa Sroufe & Co boosted its position in shares of International Seaways by 1.1% during the second quarter. Lesa Sroufe & Co now owns 58,161 shares of the transportation company’s stock valued at $2,122,000 after purchasing an additional 608 shares in the last quarter. CWM LLC boosted its position in shares of International Seaways by 149.4% during the second quarter. CWM LLC now owns 13,327 shares of the transportation company’s stock valued at $486,000 after purchasing an additional 7,983 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of International Seaways during the second quarter valued at approximately $273,000. Blue Trust Inc. boosted its position in shares of International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of International Seaways by 26.0% during the second quarter. QRG Capital Management Inc. now owns 47,252 shares of the transportation company’s stock valued at $1,724,000 after purchasing an additional 9,742 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.
International Seaways Stock Up 0.5%
INSW stock opened at $46.34 on Tuesday. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $50.36. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.29 billion, a P/E ratio of 9.63 and a beta of 0.01. The business’s 50-day moving average price is $45.52 and its 200-day moving average price is $40.22.
International Seaways Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.48 annualized dividend and a yield of 1.0%. International Seaways’s dividend payout ratio is 9.98%.
Insider Buying and Selling at International Seaways
In other news, CAO James D. Small III sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $41.35, for a total value of $206,750.00. Following the completion of the sale, the chief accounting officer owned 69,292 shares of the company’s stock, valued at $2,865,224.20. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.00, for a total value of $44,000.00. Following the completion of the transaction, the chief financial officer owned 67,695 shares of the company’s stock, valued at $2,978,580. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,000 shares of company stock worth $777,530. 2.00% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on INSW. BTIG Research dropped their price target on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.
Get Our Latest Analysis on INSW
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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