QRG Capital Management Inc. Decreases Position in International Seaways, Inc. (NYSE:INSW)

QRG Capital Management Inc. lessened its position in International Seaways, Inc. (NYSE:INSW) by 18.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,906 shares of the transportation company’s stock after selling 5,349 shares during the period. QRG Capital Management Inc.’s holdings in International Seaways were worth $823,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares during the period. Kingsview Wealth Management LLC purchased a new stake in shares of International Seaways in the third quarter worth approximately $2,161,000. Charles Schwab Investment Management Inc. lifted its stake in shares of International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after acquiring an additional 32,825 shares during the last quarter. Barclays PLC boosted its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after acquiring an additional 174,695 shares during the period. Finally, FMR LLC grew its position in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after acquiring an additional 414,610 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Down 1.2 %

Shares of International Seaways stock opened at $32.93 on Tuesday. International Seaways, Inc. has a 1 year low of $31.86 and a 1 year high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 3.18 and a beta of -0.11. The firm’s 50-day moving average is $37.72 and its two-hundred day moving average is $42.96.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. International Seaways’s dividend payout ratio is presently 5.72%.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the transaction, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $108,060 over the last ninety days. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.