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

QRG Capital Management Inc. raised its holdings in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 63.8% during the 1st quarter, according to the company in its most recent 13F 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 quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in International Seaways in the 4th quarter worth approximately $29,000. Larson Financial Group LLC acquired a new position in shares of International Seaways during the fourth quarter worth approximately $37,000. GAMMA Investing LLC lifted its holdings in shares of International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after buying an additional 596 shares during the last quarter. Quarry LP lifted its holdings in shares of International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after buying an additional 852 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of International Seaways during the fourth quarter worth approximately $69,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Stock Performance

Shares of NYSE INSW traded down $0.82 during trading hours on Friday, reaching $40.14. The stock had a trading volume of 1,571,013 shares, compared to its average volume of 759,616. The business's fifty day moving average is $36.52 and its two-hundred day moving average is $36.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 6.20 and a beta of 0.05. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $60.99.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating 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 firm had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. During the same period in the prior year, the business posted $2.92 earnings per share. The business's revenue was down 32.9% compared to the same quarter last year. As a group, research analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is 7.42%.

Analysts Set New Price Targets

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 Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the sale, the senior vice president now owns 55,893 shares in the company, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the sale, the senior vice president now owns 56,846 shares in the company, valued at $1,854,884.98. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,500 shares of company stock worth $378,200 over the last three months. Company 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.