Insider Selling: International Seaways, Inc. (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the transaction, the chief executive officer now owns 151,475 shares in the company, valued at approximately $6,336,199.25. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

International Seaways Trading Up 1.6 %

NYSE INSW opened at $41.88 on Tuesday. International Seaways, Inc. has a 52 week low of $41.22 and a 52 week high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.87 and a current ratio of 3.60. The stock’s 50 day moving average price is $48.20 and its two-hundred day moving average price is $53.85. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 4.05 and a beta of -0.06.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 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 analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 earnings per share. As a group, analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.32 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 12.61%. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. FMR LLC grew its stake in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares in the last quarter. Millennium Management LLC bought a new position in shares of International Seaways in the second quarter valued at $21,875,000. Vanguard Group Inc. increased its holdings in International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after buying an additional 286,295 shares during the last quarter. American Century Companies Inc. raised its position in 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. Finally, Barclays PLC lifted its stake in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after acquiring an additional 174,695 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on INSW shares. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group reduced their price target on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and cut their price objective for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two 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. According to data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and an average price target 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.