International Seaways, Inc. (NYSE:INSW) Director Sells $263,535.80 in Stock

International Seaways, Inc. (NYSE:INSW) Director Douglas D. Wheat sold 4,532 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $58.15, for a total transaction of $263,535.80. Following the completion of the sale, the director now owns 20,634 shares in the company, valued at approximately $1,199,867.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

International Seaways Stock Performance

Shares of International Seaways stock traded up $0.16 on Monday, reaching $55.05. 632,501 shares of the company traded hands, compared to its average volume of 546,584. The company has a 50 day moving average of $58.70 and a 200 day moving average of $53.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. International Seaways, Inc. has a 52 week low of $35.29 and a 52 week high of $65.94. The firm has a market capitalization of $2.72 billion, a PE ratio of 5.14 and a beta of -0.04.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.54. The business had revenue of $274.40 million during the quarter, compared to analyst estimates of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. International Seaways’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.30 earnings per share. Equities analysts forecast that International Seaways, Inc. will post 10.07 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a $1.75 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $7.00 annualized dividend and a yield of 12.72%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new stake in International Seaways during the 1st quarter valued at $27,000. Headlands Technologies LLC raised its stake in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares during the period. EntryPoint Capital LLC purchased a new stake in International Seaways during the 1st quarter worth about $108,000. Bfsg LLC bought a new position in International Seaways in the 4th quarter worth about $167,000. Finally, U S Global Investors Inc. grew its holdings in International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after buying an additional 2,500 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on INSW. Stifel Nicolaus increased their price objective on International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and an average price target of $63.25.

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.