QRG Capital Management Inc. Sells 10,917 Shares of International Seaways Inc. $INSW

QRG Capital Management Inc. trimmed its position in shares of International Seaways Inc. (NYSE:INSW) by 23.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,335 shares of the transportation company’s stock after selling 10,917 shares during the period. QRG Capital Management Inc. owned 0.07% of International Seaways worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of International Seaways by 601.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after purchasing an additional 1,293 shares during the last quarter. Blue Trust Inc. lifted its stake in International Seaways by 18.3% in the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its holdings in International Seaways by 240.1% during the second quarter. NewEdge Advisors LLC now owns 2,010 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,419 shares during the period. State of Wyoming acquired a new position in International Seaways during the second quarter worth approximately $87,000. Finally, GAMMA Investing LLC increased its position in International Seaways by 193.4% during the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock worth $124,000 after buying an additional 2,249 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Stock Performance

Shares of NYSE INSW opened at $56.40 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 12.85 and a beta of -0.18. The stock’s fifty day moving average price is $51.53 and its two-hundred day moving average price is $47.12. International Seaways Inc. has a one year low of $27.20 and a one year high of $57.35.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.24. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The company had revenue of $196.39 million during the quarter, compared to the consensus estimate of $180.92 million. During the same quarter last year, the firm earned $1.57 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. On average, equities analysts forecast that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio is presently 10.93%.

Insider Buying and Selling at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $48.56, for a total value of $97,120.00. Following the completion of the sale, the chief executive officer directly owned 182,421 shares in the company, valued at approximately $8,858,363.76. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James D. Small III sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the sale, the chief accounting officer owned 49,292 shares of the company’s stock, valued at approximately $2,642,051.20. This trade represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 32,500 shares of company stock worth $1,732,605. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INSW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Pareto Securities cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, International Seaways has an average rating of “Hold” and a consensus target price of $52.67.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.