Jeffrey Pribor Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $58.83, for a total value of $58,830.00. Following the transaction, the chief financial officer now owns 39,849 shares in the company, valued at approximately $2,344,316.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jeffrey Pribor also recently made the following trade(s):

• On Friday, June 7th, Jeffrey Pribor sold 35,000 shares of International Seaways stock. The shares were sold at an average price of $62.37, for a total value of $2,182,950.00.
• On Wednesday, May 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $54.87, for a total value of $54,870.00.

International Seaways Price Performance

NYSE INSW traded up $0.25 during trading hours on Wednesday, hitting $60.22. 202,901 shares of the company’s stock traded hands, compared to its average volume of 551,482. The company has a market capitalization of $2.97 billion, a PE ratio of 5.60 and a beta of -0.06. 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 $35.51 and a 52-week high of $65.94. The firm’s 50-day moving average is $60.16 and its 200-day moving average is $54.50.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.54. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The business had revenue of $274.40 million during the quarter, compared to analyst estimates of $249.12 million. During the same period in the prior year, the business earned $3.30 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. Equities analysts forecast that International Seaways, Inc. will post 10.3 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a $1.75 dividend. This is a boost from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a yield of 11.62%. The ex-dividend date was Wednesday, June 12th. International Seaways’s dividend payout ratio is presently 4.49%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INSW shares. Stifel Nicolaus upped their price objective on shares of International Seaways from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft raised their price target 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $63.75.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. Donald Smith & CO. Inc. lifted its holdings in International Seaways by 24.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after acquiring an additional 318,962 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in International Seaways in the 4th quarter valued at about $14,399,000. Vanguard Group Inc. lifted its position in International Seaways by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in International Seaways by 57.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock worth $18,367,000 after buying an additional 147,740 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after acquiring an additional 139,569 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.