International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent Sells 1,000 Shares

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the sale, the senior vice president now owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Stock Performance

Shares of NYSE:INSW traded up $0.31 on Thursday, hitting $36.25. The company’s stock had a trading volume of 732,448 shares, compared to its average volume of 629,361. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 3.50 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The stock’s 50-day moving average is $39.41 and its two-hundred day moving average is $48.28.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 EPS. On average, equities research analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.57%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is currently 4.64%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INSW. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INSW. FMR LLC boosted its holdings in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares in the last quarter. Millennium Management LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at approximately $21,875,000. American Century Companies Inc. increased its position in shares of International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after acquiring an additional 252,492 shares in the last quarter. Barclays PLC raised its stake in shares of International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of International Seaways during the second quarter worth about $8,781,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.