TIAA CREF Investment Management LLC reduced its position in shares of International Seaways Inc (NYSE:INSW) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,039 shares of the transportation company’s stock after selling 2,920 shares during the period. TIAA CREF Investment Management LLC’s holdings in International Seaways were worth $1,042,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Frontier Capital Management Co. LLC raised its stake in shares of International Seaways by 25.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,616,534 shares of the transportation company’s stock valued at $32,363,000 after buying an additional 327,942 shares in the last quarter. Millennium Management LLC bought a new position in shares of International Seaways in the 2nd quarter valued at about $1,160,000. Dimensional Fund Advisors LP boosted its stake in shares of International Seaways by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,404,868 shares of the transportation company’s stock valued at $28,125,000 after purchasing an additional 144,903 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of International Seaways by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 1,576,136 shares of the transportation company’s stock valued at $31,554,000 after purchasing an additional 25,646 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of International Seaways by 0.9% in the 3rd quarter. BlackRock Inc. now owns 1,574,454 shares of the transportation company’s stock valued at $31,521,000 after purchasing an additional 14,768 shares during the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.
International Seaways stock traded down $0.09 during midday trading on Monday, hitting $16.43. 75,191 shares of the stock were exchanged, compared to its average volume of 59,354. International Seaways Inc has a 52 week low of $15.23 and a 52 week high of $24.78. The firm has a market capitalization of $479.43 million, a price-to-earnings ratio of -56.66 and a beta of 0.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.69.
INSW has been the topic of several recent research reports. Zacks Investment Research lowered shares of International Seaways from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. B. Riley assumed coverage on shares of International Seaways in a research note on Friday, November 9th. They issued a “neutral” rating and a $21.50 target price on the stock. ValuEngine raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Friday, November 30th. Jefferies Financial Group set a $30.00 price objective on shares of International Seaways and gave the stock a “buy” rating in a research note on Thursday, December 6th. Finally, TheStreet raised shares of International Seaways from a “d” rating to a “c-” rating in a research note on Wednesday, February 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.50.
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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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.
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