Quantbot Technologies LP Grows Position in International Seaways, Inc. (NYSE:INSW)

Quantbot Technologies LP lifted its holdings in International Seaways, Inc. (NYSE:INSW) by 225.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,645 shares of the transportation company’s stock after buying an additional 22,624 shares during the period. Quantbot Technologies LP owned approximately 0.07% of International Seaways worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INSW. Summit Global Investments purchased a new position in International Seaways during the fourth quarter worth approximately $436,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $310,000. Magnetar Financial LLC acquired a new stake in International Seaways during the fourth quarter worth $2,744,000. Maryland State Retirement & Pension System acquired a new position in shares of International Seaways in the 4th quarter valued at $488,000. Finally, Intech Investment Management LLC grew its holdings in shares of International Seaways by 58.3% during the 4th 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. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Performance

Shares of International Seaways stock opened at $33.85 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 3.27 and a beta of -0.17. The business has a 50-day moving average of $36.66 and a 200 day moving average of $40.98. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is currently 5.72%.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the sale, the senior vice president now owns 49,803 shares in the company, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,400 shares of company stock valued at $324,296 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on INSW. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a report on Friday, January 24th. Two 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.50.

International Seaways Company 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.