Aurora Investment Counsel Reduces Stake in International Seaways, Inc. (NYSE:INSW)

Aurora Investment Counsel decreased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,720 shares of the transportation company’s stock after selling 1,097 shares during the quarter. Aurora Investment Counsel’s holdings in International Seaways were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INSW. Principal Financial Group Inc. lifted its position in shares of International Seaways by 27.3% during the 3rd quarter. Principal Financial Group Inc. now owns 28,583 shares of the transportation company’s stock worth $1,474,000 after buying an additional 6,121 shares during the last quarter. Entropy Technologies LP boosted its stake in International Seaways by 61.0% in the third quarter. Entropy Technologies LP now owns 22,988 shares of the transportation company’s stock valued at $1,185,000 after acquiring an additional 8,713 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of International Seaways by 112.6% during the third quarter. GSA Capital Partners LLP now owns 17,453 shares of the transportation company’s stock worth $900,000 after purchasing an additional 9,245 shares during the last quarter. KBC Group NV increased its position in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of International Seaways by 3.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 98,597 shares of the transportation company’s stock valued at $5,084,000 after purchasing an additional 3,278 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

International Seaways Stock Down 0.5 %

INSW opened at $33.00 on Friday. The business has a 50 day moving average price of $37.40 and a two-hundred day moving average price of $42.09. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The company has a market cap of $1.62 billion, a PE ratio of 3.19 and a beta of -0.17. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

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

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at approximately $1,908,197.30. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 3,000 shares of company stock valued at $108,060. 1.90% of the stock is owned by company insiders.

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.