International Seaways, Inc. (NYSE:INSW) CEO Sells $82,560.00 in Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, January 15th. The shares were sold at an average price of $41.28, for a total value of $82,560.00. Following the sale, the chief executive officer now owns 147,045 shares of the company’s stock, valued at approximately $6,070,017.60. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

International Seaways Trading Down 2.3 %

Shares of NYSE:INSW opened at $38.48 on Friday. The stock has a 50 day moving average of $38.14 and a 200 day moving average of $46.60. The company has a market cap of $1.89 billion, a PE ratio of 3.72 and a beta of -0.10. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month high of $65.94.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. During the same period in the previous year, the firm earned $1.99 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts expect that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.32 dividend. The ex-dividend date was Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 13.72%. International Seaways’s payout ratio is currently 4.64%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and cut their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in INSW. FMR LLC lifted its holdings in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of International Seaways during the 2nd quarter worth approximately $21,875,000. Barclays PLC raised its holdings in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after acquiring an additional 174,695 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of International Seaways during the 2nd quarter worth approximately $8,781,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of International Seaways during the 3rd quarter worth approximately $6,168,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

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.