Principal Financial Group Inc. Raises Holdings in International Seaways Inc. (NYSE:INSW)

Principal Financial Group Inc. increased its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,362 shares of the transportation company's stock after buying an additional 7,818 shares during the period. Principal Financial Group Inc. owned about 0.47% of International Seaways worth $7,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in INSW. Charles Schwab Investment Management Inc. raised its stake in International Seaways by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock valued at $16,662,000 after acquiring an additional 32,953 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of International Seaways in the 4th quarter valued at $1,837,000. HighTower Advisors LLC grew its holdings in International Seaways by 4.9% during the 4th quarter. HighTower Advisors LLC now owns 26,878 shares of the transportation company's stock valued at $966,000 after purchasing an additional 1,249 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after acquiring an additional 360 shares in the last quarter. Finally, Swiss National Bank increased its holdings in International Seaways by 0.9% during the 4th quarter. Swiss National Bank now owns 78,100 shares of the transportation company's stock worth $2,807,000 after purchasing an additional 700 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Up 2.2%

Shares of International Seaways stock traded up $0.83 during midday trading on Thursday, hitting $39.20. The company's stock had a trading volume of 246,475 shares, compared to its average volume of 757,032. The stock has a 50-day simple moving average of $38.27 and a 200-day simple moving average of $36.43. The firm has a market capitalization of $1.93 billion, a P/E ratio of 6.04 and a beta of 0.05. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $58.73.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The company had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same period last year, the business earned $2.92 EPS. The business's quarterly revenue was down 32.9% on a year-over-year basis. As a group, sell-side analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways's payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $37.00, for a total transaction of $37,000.00. Following the completion of the transaction, the senior vice president directly owned 59,752 shares of the company's stock, valued at $2,210,824. This trade represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the transaction, the chief executive officer directly owned 192,771 shares in the company, valued at $7,444,816.02. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,500 shares of company stock valued at $473,730. 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.