Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells 3,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total value of $194,100.00. Following the completion of the sale, the senior vice president now owns 54,803 shares of the company’s stock, valued at approximately $3,545,754.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Trading Down 1.4 %

NYSE:INSW traded down $0.92 on Wednesday, reaching $64.00. The company’s stock had a trading volume of 505,100 shares, compared to its average volume of 559,652. International Seaways, Inc. has a 1-year low of $34.77 and a 1-year high of $65.11. 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 firm has a market cap of $3.16 billion, a PE ratio of 6.07 and a beta of -0.05. The business’s 50-day moving average price is $55.36 and its two-hundred day moving average price is $51.36.

International Seaways (NYSE:INSW) last posted its 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 firm had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the previous year, the firm earned $3.30 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $1.75 per share. This is a boost from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a dividend yield of 10.94%. The ex-dividend date of this dividend is Wednesday, June 12th. International Seaways’s dividend payout ratio is currently 4.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC boosted its position in shares of International Seaways by 20.6% during the first quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company’s stock worth $1,920,000 after buying an additional 6,166 shares during the period. Janus Henderson Group PLC raised its holdings 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 acquiring an additional 5,802 shares in the last quarter. BTG Pactual Global Asset Management Ltd raised its holdings in International Seaways by 49.7% during the first quarter. BTG Pactual Global Asset Management Ltd now owns 23,344 shares of the transportation company’s stock worth $1,242,000 after acquiring an additional 7,754 shares in the last quarter. Paloma Partners Management Co bought a new stake in International Seaways during the first quarter worth about $594,000. Finally, Aristides Capital LLC bought a new stake in International Seaways during the first quarter worth about $256,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INSW shares. Deutsche Bank Aktiengesellschaft upped their price objective on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus upped their price objective on International Seaways from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 9th. StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $63.25.

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.