Principal Financial Group Inc. Has $18.41 Million Stake in International Seaways Inc. $INSW

Principal Financial Group Inc. raised its stake in shares of International Seaways Inc. (NYSE:INSW) by 30.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 252,670 shares of the transportation company’s stock after purchasing an additional 59,640 shares during the quarter. Principal Financial Group Inc. owned 0.51% of International Seaways worth $18,415,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after buying an additional 200 shares during the period. ProShare Advisors LLC increased its stake in International Seaways by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after acquiring an additional 241 shares during the period. Guggenheim Capital LLC raised its holdings in International Seaways by 1.4% in the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after acquiring an additional 275 shares in the last quarter. Founders Capital Management raised its holdings in International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of International Seaways by 1.1% in the 4th quarter. Deutsche Bank AG now owns 31,168 shares of the transportation company’s stock worth $1,513,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Down 1.8%

INSW stock opened at $88.88 on Thursday. International Seaways Inc. has a 1-year low of $39.06 and a 1-year high of $92.66. The firm has a market cap of $4.40 billion, a P/E ratio of 8.09 and a beta of -0.12. The business’s 50 day moving average is $83.48 and its 200-day moving average is $73.94. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping the consensus estimate of $2.87 by $1.03. The business had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.International Seaways’s revenue was up 77.5% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Equities analysts anticipate that International Seaways Inc. will post 15.62 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Buying and Selling

In other news, SVP Derek G. Solon sold 4,700 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the sale, the senior vice president owned 49,719 shares in the company, valued at approximately $4,435,929.18. The trade was a 8.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the completion of the sale, the chief executive officer directly owned 181,745 shares in the company, valued at approximately $16,008,099.60. The trade was a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 42,530 shares of company stock valued at $3,699,995 in the last ninety days. Insiders own 1.70% of the company’s stock.

About International Seaways

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.