International Seaways, Inc. (NYSE:INSW) CEO Sells $82,560.00 in Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 15th. The stock was sold at an average price of $41.28, for a total value of $82,560.00. Following the sale, the chief executive officer now directly owns 147,045 shares in the company, valued at $6,070,017.60. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

International Seaways Price Performance

INSW opened at $38.48 on Friday. The business’s fifty day simple moving average is $38.14 and its 200-day simple moving average is $46.60. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month high of $65.94. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 3.72 and a beta of -0.10.

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

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 13.72%. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INSW. Blue Trust Inc. purchased a new position in shares of International Seaways in the third quarter worth about $41,000. EverSource Wealth Advisors LLC raised its stake in shares of International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after purchasing an additional 305 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of International Seaways in the third quarter worth about $52,000. KBC Group NV raised its stake in shares of International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares during the last quarter. Finally, Quarry LP raised its stake in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INSW has been the topic of several analyst reports. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

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.