James D. Small III Sells 7,500 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CAO James D. Small III sold 7,500 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $55.20, for a total value of $414,000.00. Following the transaction, the chief accounting officer now owns 55,138 shares in the company, valued at $3,043,617.60. The sale was disclosed in a document filed with the SEC, which is available at this link.

International Seaways Stock Performance

NYSE INSW traded up $0.16 during trading on Monday, hitting $55.05. 632,501 shares of the company’s stock traded hands, compared to its average volume of 546,584. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 5.14 and a beta of -0.04. International Seaways, Inc. has a 12-month low of $35.29 and a 12-month high of $65.94. The business has a 50 day moving average of $58.70 and a 200-day moving average of $53.31.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The company had revenue of $274.40 million during the quarter, compared to the consensus estimate of $249.12 million. During the same period last year, the firm earned $3.30 EPS. International Seaways’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that International Seaways, Inc. will post 10.07 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 Wednesday, June 26th. Investors of record on Wednesday, June 12th will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 12.72%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Wednesday, June 12th. International Seaways’s payout ratio is presently 4.49%.

Institutional Trading of International Seaways

A number of institutional investors have recently added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC purchased a new stake in International Seaways in the 1st quarter worth approximately $27,000. Boston Partners increased its holdings in shares of International Seaways by 433.9% in the first quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock worth $8,718,000 after purchasing an additional 133,102 shares during the period. Verity Asset Management Inc. raised its position in shares of International Seaways by 29.5% in the first quarter. Verity Asset Management Inc. now owns 11,904 shares of the transportation company’s stock worth $633,000 after buying an additional 2,709 shares in the last quarter. Tidal Investments LLC boosted its stake in International Seaways by 20.6% during the first quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company’s stock valued at $1,920,000 after buying an additional 6,166 shares during the period. Finally, Janus Henderson Group PLC grew its position in International Seaways by 36.0% during the first quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company’s stock worth $1,165,000 after buying an additional 5,802 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their target price on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. Finally, StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock 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.