Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells 1,200 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,200 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the transaction, the senior vice president now owns 45,687 shares of the company’s stock, valued at $1,777,681.17. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

International Seaways Trading Down 1.6 %

Shares of INSW opened at $39.00 on Monday. The business’s 50-day moving average price is $46.39 and its 200-day moving average price is $52.52. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a twelve month low of $38.67 and a twelve month high of $65.94. The stock has a market cap of $1.92 billion, a PE ratio of 3.77 and a beta of -0.06.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the prior year, the firm posted $1.99 EPS. International Seaways’s revenue was down 6.8% on a year-over-year basis. On average, equities analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.54%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Institutional Investors Weigh In On International Seaways

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of International Seaways by 102.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock valued at $1,247,000 after acquiring an additional 10,652 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of International Seaways in the third quarter worth approximately $2,161,000. QRG Capital Management Inc. increased its position in shares of International Seaways by 227.5% in the second quarter. QRG Capital Management Inc. now owns 26,253 shares of the transportation company’s stock worth $1,552,000 after purchasing an additional 18,237 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in International Seaways by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 71,206 shares of the transportation company’s stock valued at $3,671,000 after purchasing an additional 33,392 shares in the last quarter. Finally, Aurora Investment Counsel bought a new stake in International Seaways during the third quarter valued at approximately $661,000. Institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group reduced their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and lowered their target price for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.67.

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.