QRG Capital Management Inc. Has $1.25 Million Stock Holdings in International Seaways Inc. (NYSE:INSW)

QRG Capital Management Inc. lifted its holdings in International Seaways Inc. (NYSE:INSW - Free Report) by 63.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,510 shares of the transportation company's stock after acquiring an additional 14,604 shares during the quarter. QRG Capital Management Inc. owned approximately 0.08% of International Seaways worth $1,245,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in International Seaways by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after acquiring an additional 369,145 shares in the last quarter. American Century Companies Inc. grew its stake in shares of International Seaways by 9.8% during the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock valued at $58,681,000 after purchasing an additional 146,145 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of International Seaways by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock valued at $34,084,000 after purchasing an additional 4,769 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in International Seaways by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock worth $16,662,000 after purchasing an additional 32,953 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in International Seaways by 1.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock worth $15,450,000 after purchasing an additional 7,325 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued 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, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer now owns 198,771 shares of the company's stock, valued at $6,293,089.86. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total transaction of $57,330.00. Following the completion of the sale, the senior vice president now directly owns 55,893 shares of the company's stock, valued at $2,136,230.46. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,500 shares of company stock worth $378,200. 2.00% of the stock is owned by insiders.

International Seaways Trading Down 4.2%

International Seaways stock traded down $1.65 during trading hours on Tuesday, reaching $37.44. 635,281 shares of the company's stock traded hands, compared to its average volume of 759,368. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 5.79 and a beta of 0.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $60.99. The firm's 50 day moving average is $36.66 and its 200-day moving average is $36.05.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The business had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. During the same period in the prior year, the business posted $2.92 earnings per share. International Seaways's revenue was down 32.9% compared to the same quarter last year. On average, analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.28%. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

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.