International Seaways, Inc. (NYSE:INSW) CFO Sells $55,970.00 in Stock

International Seaways, Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the sale, the chief financial officer now owns 38,849 shares in the company, valued at approximately $2,174,378.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, July 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $58.83, for a total transaction of $58,830.00.
• On Friday, June 7th, Jeffrey Pribor sold 35,000 shares of International Seaways stock. The stock was sold at an average price of $62.37, for a total transaction of $2,182,950.00.

International Seaways Price Performance

Shares of International Seaways stock traded down $2.60 during trading hours on Friday, reaching $51.84. The stock had a trading volume of 749,700 shares, compared to its average volume of 558,569. International Seaways, Inc. has a twelve month low of $40.11 and a twelve month high of $65.94. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.56 billion, a PE ratio of 4.88 and a beta of -0.06. The stock’s 50 day moving average is $58.94 and its 200 day moving average is $55.82.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, topping 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 company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same quarter in the prior year, the firm posted $3.30 EPS. International Seaways’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts expect that International Seaways, Inc. will post 10.12 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a $1.75 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date was Wednesday, June 12th. This represents a $7.00 annualized dividend and a dividend yield of 13.50%. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Analyst Ratings Changes

Several research firms have commented on INSW. Stifel Nicolaus upped their price target on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $64.75.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of International Seaways during the first quarter worth $27,000. EdgeRock Capital LLC purchased a new stake in International Seaways during the 2nd quarter valued at about $28,000. Headlands Technologies LLC raised its holdings in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 574 shares during the last quarter. CWM LLC lifted its stake in International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of International Seaways during the 1st quarter worth approximately $108,000. Hedge funds and other institutional investors 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.