International Seaways, Inc. (NYSE:INSW) SVP Sells $39,100.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the transaction, the senior vice president now directly owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

International Seaways Price Performance

Shares of NYSE INSW traded down $0.01 during trading on Monday, reaching $38.94. The company had a trading volume of 603,744 shares, compared to its average volume of 998,464. 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 twelve month low of $32.11 and a twelve month high of $65.94. The stock has a 50-day moving average price of $37.19 and a two-hundred day moving average price of $45.09. The stock has a market capitalization of $1.92 billion, a PE ratio of 3.76 and a beta of -0.11.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the previous year, the company posted $1.99 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that International Seaways, Inc. will post 7.82 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a yield of 13.56%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position 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 buying an additional 414,610 shares during the period. Empowered Funds LLC increased its stake in International Seaways by 470.8% during the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock worth $9,813,000 after acquiring an additional 225,196 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of International Seaways by 685.6% in the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company’s stock worth $8,070,000 after purchasing an additional 195,961 shares during the period. Barclays PLC lifted 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 in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of International Seaways during the 3rd quarter worth about $6,168,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INSW has been the subject of several research reports. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and cut 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 target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

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.