International Seaways, Inc. (NYSE:INSW) Shares Sold by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC cut its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 254,026 shares of the transportation company’s stock after selling 43,986 shares during the period. Aristotle Capital Boston LLC’s holdings in International Seaways were worth $9,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Freestone Grove Partners LP acquired a new position in International Seaways during the 4th quarter worth $363,000. Schonfeld Strategic Advisors LLC grew its position in International Seaways by 60.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 38,488 shares of the transportation company’s stock valued at $1,383,000 after buying an additional 14,434 shares in the last quarter. AQR Capital Management LLC increased its stake in International Seaways by 7.9% during the 4th quarter. AQR Capital Management LLC now owns 227,329 shares of the transportation company’s stock valued at $8,170,000 after buying an additional 16,595 shares during the period. Northern Trust Corp raised its position in shares of International Seaways by 15.2% during the 4th quarter. Northern Trust Corp now owns 424,290 shares of the transportation company’s stock worth $15,249,000 after buying an additional 55,824 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after acquiring an additional 852 shares during the period. 67.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INSW has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

International Seaways Price Performance

NYSE INSW opened at $34.94 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of 3.38 and a beta of -0.01. 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 business’s fifty day moving average is $33.15 and its two-hundred day moving average is $37.34. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.37%. International Seaways’s payout ratio is presently 5.72%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares of the company’s stock, valued at $6,223,445.62. The trade was a 1.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now owns 50,453 shares of the company’s stock, valued at $1,684,625.67. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,400 shares of company stock valued at $380,086. 1.90% of the stock is currently owned by corporate insiders.

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.