International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky Sells 2,000 Shares

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the transaction, the chief executive officer now directly owns 179,557 shares of the company’s stock, valued at approximately $6,223,445.62. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

International Seaways Stock Up 2.6 %

INSW stock opened at $35.23 on Thursday. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 3.40 and a beta of -0.17. The company has a 50 day moving average of $37.14 and a two-hundred day moving average of $41.49.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.36%. International Seaways’s dividend payout ratio is currently 5.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in International Seaways by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock valued at $171,043,000 after buying an additional 369,145 shares during the last quarter. American Century Companies Inc. grew its stake in International Seaways by 9.8% in the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company’s stock valued at $58,681,000 after buying an additional 146,145 shares during the last quarter. Geode Capital Management LLC grew its stake in International Seaways by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company’s stock valued at $34,084,000 after buying an additional 4,769 shares during the last quarter. FMR LLC grew its stake in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after buying an additional 414,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in International Seaways by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock valued at $16,662,000 after buying an additional 32,953 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the subject of several research reports. SEB Equity Research set a $50.00 target price on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. Two 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.