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

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $32.63, for a total transaction of $32,630.00. Following the transaction, the senior vice president now directly owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Seaways Stock Down 0.7 %

INSW opened at $33.09 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 3.20 and a beta of -0.01. International Seaways, Inc. has a one year low of $31.70 and a one year high of $65.94. The business’s fifty day moving average is $36.04 and its two-hundred day moving average is $40.39.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. International Seaways’s payout ratio is 5.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INSW. SEB Equity Research set a $50.00 target price on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently added to or reduced their stakes in the business. 111 Capital purchased a new stake in shares of International Seaways in the fourth quarter valued at about $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in International Seaways by 89.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,919 shares of the transportation company’s stock valued at $3,950,000 after buying an additional 51,884 shares during the last quarter. Voloridge Investment Management LLC increased its position in International Seaways by 445.5% during the fourth quarter. Voloridge Investment Management LLC now owns 180,566 shares of the transportation company’s stock worth $6,490,000 after buying an additional 147,468 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of International Seaways by 85.5% in the fourth quarter. Vident Advisory LLC now owns 21,947 shares of the transportation company’s stock worth $789,000 after acquiring an additional 10,113 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of International Seaways by 68.1% in the fourth quarter. Squarepoint Ops LLC now owns 118,452 shares of the transportation company’s stock valued at $4,257,000 after acquiring an additional 48,006 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

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.