International Seaways Inc. $INSW Stock Position Boosted by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in International Seaways Inc. by 26.0%, owning 47,252 shares valued at approximately $1.72 million after acquiring an additional 9,742 shares during the second quarter.
• Analysts currently have a consensus rating of "Moderate Buy" for International Seaways, with an average price target of $53.50 per share.
• International Seaways recently announced a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 1.1% with a payout ratio of 9.98%.

QRG Capital Management Inc. boosted its stake in International Seaways Inc. (NYSE:INSW - Free Report) by 26.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,252 shares of the transportation company's stock after buying an additional 9,742 shares during the period. QRG Capital Management Inc. owned 0.10% of International Seaways worth $1,724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after buying an additional 596 shares in the last quarter. New York State Teachers Retirement System grew its position in International Seaways by 139.9% in the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock valued at $690,000 after buying an additional 12,128 shares in the last quarter. KBC Group NV grew its position in International Seaways by 61.2% in the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock valued at $93,000 after buying an additional 1,063 shares in the last quarter. Blue Trust Inc. grew its position in International Seaways by 87.3% in the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after buying an additional 738 shares in the last quarter. Finally, Arizona State Retirement System grew its position in International Seaways by 3.9% in the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock valued at $398,000 after buying an additional 455 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Analyst Upgrades and Downgrades

INSW has been the subject of several research reports. BTIG Research reduced their price objective on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Weiss Ratings restated a "hold (c+)" rating on shares of International Seaways in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, International Seaways currently has a consensus rating of "Moderate Buy" and an average price target of $53.50.

International Seaways Stock Performance

International Seaways stock opened at $44.38 on Wednesday. The firm's 50 day simple moving average is $45.05 and its 200-day simple moving average is $39.43. The company has a market cap of $2.19 billion, a P/E ratio of 9.23 and a beta of 0.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $53.49.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. The business had revenue of $188.82 million for the quarter, compared to the consensus estimate of $199.06 million. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The firm's quarterly revenue was down 24.0% compared to the same quarter last year. During the same period last year, the firm posted $2.37 earnings per share. As a group, equities research analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, September 10th. International Seaways's dividend payout ratio (DPR) is 9.98%.

Insider Buying and Selling at International Seaways

In related news, SVP Derek G. Solon sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $41.35, for a total transaction of $124,050.00. Following the completion of the sale, the senior vice president directly owned 52,893 shares in the company, valued at approximately $2,187,125.55. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $49.08, for a total transaction of $98,160.00. Following the sale, the chief executive officer owned 188,771 shares of the company's stock, valued at approximately $9,264,880.68. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $799,770 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

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.

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