International Seaways, Inc. (NYSE:INSW) SVP Sells $32,630.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the sale, the senior vice president now directly owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

International Seaways Stock Down 7.4 %

Shares of INSW opened at $28.74 on Friday. The business’s fifty day moving average price is $35.78 and its two-hundred day moving average price is $40.17. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 2.78 and a beta of -0.01. International Seaways, Inc. has a 52 week low of $27.20 and a 52 week high of $65.94. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.67%. International Seaways’s dividend payout ratio is currently 5.72%.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently modified their holdings of the business. Banque Transatlantique SA bought a new position in International Seaways in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in shares of International Seaways in the 4th quarter valued at $37,000. Quarry LP boosted its position in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after purchasing an additional 852 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of International Seaways during the third quarter worth $52,000. Finally, R Squared Ltd bought a new stake in International Seaways in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on INSW. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

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.