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

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the transaction, the senior vice president now owns 55,852 shares in the company, valued at $1,892,824.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Seaways Stock Performance

NYSE INSW opened at $32.93 on Tuesday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $37.72 and its two-hundred day moving average is $42.96. International Seaways, Inc. has a 12-month low of $31.86 and a 12-month high of $65.94. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 3.18 and a beta of -0.11.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on International Seaways in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.50.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in International Seaways during the 4th quarter worth approximately $29,000. Larson Financial Group LLC acquired a new stake in shares of International Seaways in the 4th quarter worth approximately $37,000. Quarry LP grew its holdings in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after acquiring an additional 852 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of International Seaways in the 3rd quarter worth approximately $52,000. Finally, KBC Group NV grew its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.