International Seaways, Inc. (NYSE:INSW) SVP Sells $35,070.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the sale, the senior vice president now owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Trading Down 2.3 %

Shares of INSW opened at $35.40 on Friday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 3.42 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a fifty-two week low of $32.11 and a fifty-two week high of $65.94. The firm has a 50 day moving average price of $39.04 and a 200-day moving average price of $48.06.

International Seaways (NYSE:INSW) last announced its quarterly earnings data 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. The firm had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.99 EPS. As a group, equities research analysts forecast that International Seaways, Inc. will post 7.92 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.32 per share. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 14.92%. The ex-dividend date was Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

Institutional Investors Weigh In On International Seaways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in International Seaways during the 3rd quarter valued at $41,000. EverSource Wealth Advisors LLC raised its holdings in International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after buying an additional 305 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in International Seaways during the 3rd quarter valued at $52,000. KBC Group NV raised its holdings in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the last quarter. Finally, Quarry LP raised its holdings in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group dropped their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Two 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 stock. Based on data from MarketBeat.com, the stock currently has an average 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.