International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon Sells 1,500 Shares

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the sale, the senior vice president now directly owns 55,893 shares of the company’s stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

International Seaways Trading Down 0.2%

Shares of International Seaways stock opened at $38.33 on Friday. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 3.70 and a beta of -0.01. International Seaways, Inc. has a fifty-two week low of $27.20 and a fifty-two 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. The stock has a 50 day moving average of $33.73 and a 200 day moving average of $36.73.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.92 earnings per share. As a group, research analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.25%. International Seaways’s payout ratio is 7.42%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new position in shares of International Seaways during the fourth quarter worth $29,000. Larson Financial Group LLC purchased a new position in shares of International Seaways during the fourth quarter worth $37,000. GAMMA Investing LLC boosted its position in shares of International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock worth $39,000 after buying an additional 596 shares during the period. Quarry LP boosted its position in shares of International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after buying an additional 852 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock worth $53,000 after buying an additional 738 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 price target on shares of International Seaways in a report on Thursday, May 8th. SEB Equity Research set a $50.00 price target on International Seaways in a report on Friday, January 24th.

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.