Insider Selling: International Seaways, Inc. (NYSE:INSW) CEO Sells $98,440.00 in Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $49.22, for a total transaction of $98,440.00. Following the completion of the sale, the chief executive officer now directly owns 153,475 shares of the company’s stock, valued at $7,554,039.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Trading Up 1.8 %

Shares of NYSE:INSW opened at $49.98 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.47 billion, a PE ratio of 4.67 and a beta of -0.08. International Seaways, Inc. has a 1 year low of $42.08 and a 1 year high of $65.94. The firm has a fifty day moving average price of $50.74 and a 200 day moving average price of $55.16.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.13). The company 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%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.12 EPS. Analysts expect that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a yield of 0.96%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus lifted their price target on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $68.00.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in International Seaways in the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC bought a new position in shares of International Seaways in the first quarter worth about $27,000. Blue Trust Inc. acquired a new position in shares of International Seaways during the 3rd quarter worth about $41,000. Headlands Technologies LLC boosted its stake in International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares during the period. Finally, Quarry LP grew its holdings in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

About International Seaways

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.