International Seaways, Inc. (NYSE:INSW) SVP Sells $49,750.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.75, for a total value of $49,750.00. Following the completion of the sale, the senior vice president now owns 46,887 shares of the company’s stock, valued at approximately $2,332,628.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Seaways Trading Up 0.4 %

International Seaways stock traded up $0.19 during trading hours on Friday, reaching $49.32. 476,325 shares of the company’s stock traded hands, compared to its average volume of 570,966. The firm’s 50 day moving average is $52.63 and its 200-day moving average is $55.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. International Seaways, Inc. has a fifty-two week low of $40.68 and a fifty-two week high of $65.94. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 4.64 and a beta of -0.07.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The firm had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. International Seaways’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $3.12 EPS. On average, analysts predict that International Seaways, Inc. will post 9.51 earnings per share for the current year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be given a $0.12 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. International Seaways’s payout ratio is 4.49%.

Institutional Trading of International Seaways

Several hedge funds have recently added to or reduced their stakes in INSW. Millennium Management LLC bought a new stake in International Seaways during the second quarter worth about $21,875,000. Vanguard Group Inc. increased its position in International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares in the last quarter. American Century Companies Inc. boosted its position in International Seaways by 25.7% in the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after buying an additional 252,492 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of International Seaways by 57.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock worth $18,367,000 after buying an additional 147,740 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after buying an additional 139,569 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INSW. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their target price on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

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.